Floatic, a warehouse robotic solutions provider, has secured $3.8 million in its latest fundraising round. This pre-Series A bridge round was led by Capstone Partners and included investments from Quantum Ventures Korea, Bluepoint, BNK Venture Investment, and BSK Investment.
With this new investment, Floatic's total funding has reached $8 million. The company previously attracted seed investments from South Korean tech giants Naver Corp.'s D2SF and Kakao Corp.'s Kakao Ventures shortly after its establishment in 2021. It also closed a $2.5 million pre-Series A round in 2022.
Floatic plans to use the funds to expand its R&D and further develop its solution, which is set for commercialization this year.
Floatic develops and provides a robotic solution called Floware for e-commerce warehouse automation. Floware streamlines the picking process, which is the most time-consuming part of warehouse operations. It offers a total solution from integration, deployment, and operation within less than six weeks, with minimal infrastructure and investment costs. The solution can enhance productivity by up to 3.5 times compared to manual picking.
Floware consists of autonomous mobile robots (AMR) designed for warehouse environments and a management platform optimized for warehouse workflow. The solution features intuitive components such as the 'Picking Guide' and a modularized software algorithm that allows for 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 plans to fully commercialize its solution 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."
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