Warehouse Robotic Solutions Provider 'Floatic' Secures $3.8 Million Pre-Series A Bridge Fund Round

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Jun 12, 2024, 09:00 ET

SEOUL, South Korea, June 12, 2024 /PRNewswire/ -- Floatic, a warehouse robotic solutions provider, today announced that it has secured $3.8 million from the latest fundraising round. This pre-Series A bridge round, led by Capstone Partners, included Quantum Ventures Korea, Bluepoint, BNK Venture Investment, and BSK Investment.

This additional investment brings the total raise to $8 million. Floatic attracted seed investments from South Korean tech giant Naver Corp.'s D2SF and Kakao Corp.'s Kakao Ventures shortly after its establishment in 2021. It then closed a $2.5 million pre-Series A round in 2022.

The company intends to use the funds to expand its R&D and further develop its solution, which is ready to be commercialized this year.

Floatic develops and provides a robotic solution, Floware, for e-commerce warehouse automation. Floware efficiently streamlines the picking process, which takes up the most time in warehouse centers. It enables a total solution from integration, deployment, and operation within less than six weeks, with minimal infrastructure and investment costs. The solution also enhances productivity by up to 3.5 times compared to manual picking.

Floware consists of autonomous mobile robots (AMR) designed specifically for the warehouse environment and a management platform tailored to optimizing warehouse workflow. The solution includes intuitive features such as the 'Picking Guide' and a modularized software algorithm that enables flexible operation and real-time management.

"Warehouses have diverse variables daily, making it difficult to provide the necessary solutions without a proper understanding of the site," said Chan Lee, CEO of Floatic. "We have been focusing on the user voices and developed the product based on this from the very beginning, which makes a crucial difference in the solution."

The company has been conducting on-site field tests with 3PL companies and local warehouses, and collaborating with leading logistics partners in Korea such as POSCO DX and LogisALL. It intends to make a full commercialization in the second half of this year.

"We will continue to invest in developing and creating the feasible robotic solutions needed to establish the most efficient warehouse environment, thoroughly focusing on the market from a user-centric perspective," Lee added. "This fundraising will be a powerful engine to achieve this goal, and we are grateful to our investors for supporting us."

SOURCE Floatic