Fabric, formerly CommonSense Robotics, a NYC-based innovative logistics company, closed a $110m Series B funding round.
The round, which brought total funding to date to $136m, was led by Corner Ventures with participation from Aleph, Canada Pension Plan Investment Board (CPPIB), Innovation Endeavors, La Maison, Playground Ventures and Temasek.
The company intends to use the funds to grow its U.S.-based commercial, operations, and technical support teams, as well as its engineering teams in Tel Aviv, and expand across the country in partnership with some of the U.S.’s leading brands.
Founded in 2015 in Tel Aviv and headquartered in New York, and led by Elram Goren, CEO and co-founder, Steve Hornyak, CCO, Fabric provides a logistics solution for retailers to manage on-demand fulfillment. Its production-proven micro-fulfillment platform places automation in close proximity to end-consumers, enabling speedy delivery, cost reduction, and scale of operations.
In October 2018, the company launched its automated fulfillment center, which currently processes up to 600 orders a day out of just 6,000 square feet with proven one-hour delivery capabilities.
Recently, Fabric announced the buildout of an automated grocery site with three temperature zones, the first of a 12-site deal in partnership with one of Israel’s largest grocery chains.