Instock Inc, an innovator in customer fulfillment robotics, has announced that it raised $3.2 million in new funding, led by Amazon Industrial Innovation Fund. The startup was founded by the Ukrainian serial entrepreneur Yehor Anchyshkin.
- Launched in May 2023, Instock is working on a Robotics-as-a-Service (RaaS) solution for e-commerce clients. It is an automated service for warehouses and operations with orders.
- The startup operates in the USA, but most of the development team has been working in Ukraine since the beginning.
- The fresh financing from Amazon Industrial Innovation Fund has brought Instock’s Seed funding to a total of $6.2 million.
“There is a growing need for highly automated, space-efficient buildings in logistics. Instock’s ASRS capabilities have the potential to improve the number of shipments per day and storage density in space constrained environments – all of which can enable faster delivery to customers and lower costs. Part of what makes Instock’s ASRS unique is that it can be easily retrofitted into existing environments, allowing for plug-and-play automation in a wide variety of building types. We’re excited to support Instock’s vision as they scale and offer production systems more broadly,”
Franziska Bossart, the Head of the Amazon Industrial Innovation Fund, commented.
- Earlier, the company managed to secure investments from OneWay Ventures and Lux Capital, with participation also including Commerce VC, u.ventures, Cybernetix Ventures, and other investors active in the robotics and eCommerce ecosystem
- With the fresh funds, Instock continues its plans to democratize automation of storage and retrieval systems (ASRS) using gravity-defying robots. In January 2024, Instock will launch its first production system with a tech-forward 3PL in North America.
