Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

Robotics for logistics; Munich-based Magazino builds smart robots for automating intralogistics; raises €21M

Editorial team by Editorial team
September 25, 2020
in News, (Crowd)funding, E-commerce, Hardware, Startups
Robotics for logistics; Munich-based Magazino builds smart robots for automating intralogistics; raises €21M
53
SHARES
LinkedInTwitterWhatsAppFacebook

Automation is one of the biggest growth drivers in the intralogistics sector, as per the robotics company, Magazino. Double-digit growth rates are expected in this segment in the coming years. This trend is driven above all by the persistently strong growth in online trade and the global shortage in logistics specialists, particularly forklift operators. In order to ride this growth wave, Magazino has raised €21M. 

Series B & financing from EIB

The Munich-based robotics company Magazino has raised €21M in its Series B round of funding. The round was led by intralogistics giant Jungheinrich and the European Investment Bank, with existing investors also participating.

- Partner content -
EIT Digital
EIT Digital Challenge 2022 is here!
Calling all European deep-tech scaleups for EIT Digital Challenge 2022Show More
Calling all European deep-tech scaleups for EIT Digital Challenge 2022 Show Less
Read more

Besides, Jungheinrich and Magazino have also agreed on broad strategic cooperation and intend to combine their skill sets in the field of mobile automation.

The raised capital will be used to expand its international sales activities and to accelerate the expansion of ACROS.AI (Advanced Cooperative Robotic Operating System), its software platform for intelligent robots that can be used for third-party hardware.

In addition to the investments made by the existing investors and Jungheinrich AG, the European Investment Bank (EIB) is providing Magazino with the financing of up to €12M. The investment from the EU bank is secured by a guarantee from the European Fund for Strategic Investments (EFSI).

Robotics for logistics

Founded in 2014 by Frederik Brantner, Lukas Zanger, and Nikolas Engelhard, Magazino develops and builds perception-controlled, mobile robots for intralogistics. 

The company has build two products:

1) TORU: A mobile robot that interacts with its environment: TORU can pick small boxes completely autonomously.

2) SOTO 2: A mobile robot for industrial small parts supply. It can handle boxes of upto 20 KG.

These autonomous robots work alongside people and can help streamline the processes in e‑commerce, fashion, and production logistics sectors. 

With Magazino’s technology individual objects can be identified on the shelf and localised via 2D and 3D cameras. After this, the objects can be securely grasped, and finally placed precisely at their destination.

“Jungheinrich’s investment in Magazino demonstrates the high market demand for our robotics software ACROS.AI and our robots. With it, Magazino will take on a central role in software in the rapidly growing market for mobile robotics,” says Frederik Brantner, CEO, and Co-Founder of Magazino.

Back in 2016, the company had landed its major clients like Fiege, which now uses Magazino robots for some of its warehouse work, and have recently ordered 30 more robots.

The company has a team strength of 100 employees in Munich, and counts Korber AG, Zalando, and Fiege Logistik among its investors.

Image credit: Magazino

 - Partner content -
How cybersecurity scaleup Intigriti conquered the world?
How cybersecurity scaleup Intigriti conquered the world?
Catch our interview with Paul Down, Head of Sales at Intigriti.
Catch our interview with Paul Down, Head of Sales at Intigriti. Show Less
Read more
Tags: featuredfundingnews
Share4Tweet13SendShare21

Partner content | Work with us

Tokenisation is the future of the financial services industry, and Luxembourg’s Tokeny is at the helm of this change

Copilot for growers: Source.ag’s Rien Kamman explains how it helps growers increase their fresh produce with AI

Waste problem is complex, but Seenons has a solution: CEO and co-founder Joost Kamermans explains the plan

Want to scale your business in Germany and Europe? Here’s how the Scaleup Landing Pad Hamburg can help

Is your deep tech scaleup aiming high? The EIT Digital Challenge 2022 can get you there

Silicon Canals | Jobs


Breaking news from Amsterdam | Partner

Founders on funding: Greener Power Solutions’ founders on their effort to reduce CO2 footprint and raising funds to support it

Founder in Residence: Slimmer AI’s Daniela Redondo Vélez on how it aims to help founders early in their dream to build new age B2B AI solutions

Amsterdam and Paris-based Trezy bags €1M, opens European headquarters in the Dutch capital

Amsterdam’s Just Eat Takeaway made progress towards profitability in H1 2022: Report

Advertisement

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy Policy
  • Cookie Policy (UK)
  • Cookie Policy (EU)
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2022 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact

Silicon Canals 2014-2022 | Website: Bright Idiots

Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Silicon Canals
Manage your privacy

To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.

Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Statistics

Marketing

Features
Always active

Always active
Manage options Manage services Manage vendors Read more about these purposes
Manage options
{title} {title} {title}
X
X