Our portfolio company Instock announced $3.2M in new funding led by Amazon Industrial Innovation Fund. Instock is reinventing customer fulfillment with their gravity-defying robots. We are proud to have co-led their seed round, and been part of the journey that’s led to receiving recognition from the world’s biggest e-commerce giant.
Instock automates storage and retrieval systems (ASRS) with robots that use magnets to drive on walls and ceilings, working in extremely tight spaces - which can significantly optimize fulfillment ops, cost and delivery times.
Fulfillment operators are constantly challenged to improve speed, efficiency and accuracy while driving down costs. Automation is a key enabler on all fronts, however 80% of eCommerce fulfillment still relies on entirely manual labor.
Founded in 2020 by Ukrainian immigrant Yegor Anchyshkin, Instock has built a technology that can have a material impact on the future of eCommerce fulfillment.
Congratulations to the team on their hard work and we can’t wait to see the launch of their first production system in North America in January 2024.