A Polish startup that has built a robotic arm, Nomagic, has raised $22 million in funding. The round was co-led by Khosla Ventures, which recently backed Mainspring and Berlin’s Almaz Capital alongside European Investment Bank. Also, existing backers Hoxton Ventures, Capnamic Ventures, DN Capital and Manta Ray took part in the round.
Previously, the company raised a seed round of $8.6 million in February 2020. With this, the total funding raised by the company has crossed $30 million.
How will Nomagic use the funds?
Nomagic will use the funds towards both growing and expanding its business. This funding round will allow it to continue investing in its robotic solution – Nomagic justPick focused on picking from Automated Storage and Retrieval Systems such as AutoStore, develop new solutions adapted to e-commerce warehouses and expand its commercial activity across Europe.
In addition, Nomagic added Roar Isaksen to the Nomagic advisory board. Roar Isaksen is the former CEO of Dematic, one of the leading intralogistics integrators, and former member of the AutoStore supervisory board.
“An increasing number of mundane tasks will be increasingly automated by robots over the coming years,” said Kanu Gulati, partner at Khosla Ventures, in a statement. “We come in early to support companies building promising technologies that are bold and impactful like Nomagic and are excited by the momentum they have demonstrated with customers.”
Ani Nazre (partner at Almaz Capital) said: “We are excited to be a part of the Nomagic team and co-lead the latest investment round since Nomagic’s autonomous robot technology is the clear market leader for warehouse pick and pack operations on all metrics – throughput, uptime and SKU coverage.”
Cooperation with BRACK.CH
Alongside this announcement, the company announced a co-operation with BRACK.CH, a leading e-commerce platform in Switzerland. The latter has adopted Nomagic’s picking solution in order to automate picking from its AutoStore system and plans to expand the usage of Nomagic’s picking solutions in the future.
What does Nomagic do?
Nomagic was founded in 2017 in Poland by Kacper Nowicki, Marek Cygan, and Tristan d’Orgeval. Accelerated by the COVID-19 pandemic and the sustained growth in e-commerce, the global warehouse automation market is poised to grow to $31 billion by 2025 and the global piece-picking robots market is projected to grow at a rate of 62,5% to reach $2.9 billion in 2026. Nomagic provides robotic picking solutions to bring extra performance to e-commerce warehouses and help their associates with repetitive manual tasks.
Nomagic’s justPick is the perfect partner for associates to manage robots, which represent up to 10x their regular picking activity thanks to their individual autonomy of above 2 hours. Its robots can take care of pick & place or pick & pack, and assign associates to value-added robotic supervision tasks.
Nomagic provides services based on Intelligent Robotics to e-commerce and retail leaders wishing to get one step closer to full automation. Its robotic solutions offer efficient item handling to pick from storage, sort or pack a large variety of SKUs. They provide performance, reliability and scalability. It brings expertise in robotics, cloud and deep learning together with experience in logistics. This combination leads to achieving the throughput and autonomy necessary to deliver ROI below 2 years and cost reductions up to 75%.