Slovak Photoneo Brightpick Group raises $19M to scale the US presence
Photoneo Brightpick Group, the parent company of Photoneo, a software provider, and Brightpick, a provider of warehouse automation solutions for e-commerce, announced it has raised an additional $19 million to complete a $40 million Series B round. Taiwania Capital led this recent round.
- Founded in Bratislava by Branislav Pulis, Jan Zizka, Michal Maly, and Tomas Kovacovsky Photoneo, Brightpick Group is a leading robotics and AI company with more than 300 employees and 5000 technology installations worldwide across the US, Europe, and Asia. Its customers include leading companies such as General Motors, Volkswagen, and KUKA.
- Launched in 2020, Brightpick offers warehouse automation solutions for e-commerce and grocery order fulfillment. The company’s end-to-end robotic solution autonomously picks, consolidates, and dispatches orders in large, small, and micro fulfillment centers. The solution takes a month to deploy, enables warehouses to reduce their picking labor by 95%, and cuts costs for order fulfillment by half.
“We are seeing extremely strong interest from existing and new customers for Brightpick’s solution because it helps customers cut operating costs and eliminate labor challenges, two relevant concerns in today’s tough economic environment,”said Jan Zizka, CEO and co-founder of Photoneo Brightpick Group.
- The fresh $19 million round was led by Taiwania Capital, based in Taiwan with offices in Silicon Valley and CEE. Taiwania Capital targets SaaS, AI, IoT, enterprise software, information security, 5G network, biotechnology, healthtech, and medtech. The round also included follow-on investments by prior Series B lead investors IPM Group and Alpha Intelligence Capital. Additional investors in this round include H&D Asset Management, Venture to Future Fund, and Kolowrat Group.
- The new funding will be used primarily to scale Brightpick’s warehouse automation solution for e-commerce and grocery order fulfillment in the US.