Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • 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
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • 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
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • 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
0
Robotics for logistics; Munich-based Magazino builds smart robots for automating intralogistics; raises €21M
34
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 -
Cost of software - The Software house
The cost of building software
Marek Gajda, CTO of The Software House, shares his insights on building high-quality...Show More
Marek Gajda, CTO of The Software House, shares his insights on building high-quality software. 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

close

Want to stay on top of the latest rounds, coolest tech and hottest startups?

Subscribe to our free, daily news blast and stay up-to-date!

Check your inbox or spam folder to confirm your subscription.

 - Partner content -
Hiring during COVID Intrinsic Search
Hiring SaaS sales executives
Check out the do's and don'ts while hiring SaaS sales executives
Check out the do's and don'ts while hiring SaaS sales executives Show Less
Read more
Tags: featuredfundingnews
Share2Tweet9SendShare14

Partner content | Work with us

Future of coding: CTOs discuss low-code versus custom code software development for their business

Why now is the perfect time to start hiring for 2021

SaaS sales in 2021: 9 predictions from an industry expert

Diversity in hiring for SaaS: the often overlooked topic of ageism

Boost your scale-up’s growth by outsourcing to these top Eastern European software development companies

Subscribe to our daily newsletter

Check your inbox or spam folder to confirm your subscription.

Breaking news from Amsterdam | Partner

Amsterdam-based Media Distillery uses AI to understand what’s inside video; secures €3M

These powerhouse female VCs are funding Amsterdam’s most innovative and diverse startups

Amsterdam-based WeTransfer reportedly planning a stock market flotation

Amsterdam-based Peak Capital’s portfolio firm Flinders acquired by Nine United; VC firm’s first exit of 2021

Advertisement

Trending

Adobe flash
News

Adobe pulls the plug on Flash, but here’s how you can still play some iconic Adobe Flash games

January 4, 2021
11 AI leaders from Amsterdam to watch in 2021
AI and chatbots

11 AI leaders from Amsterdam to watch in 2021

January 7, 2021
Amsterdam
Amsterdam

CES 2021: Meet the 12 Amsterdam-based startups in the Dutch delegation

January 13, 2021
  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy policy
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2020 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • 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
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdam
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact

Silicon Canals 2014-2020 | Website: Bright Idiots

X

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info