Robotics and AI Pioneer Emerges from Stealth Mode to Enable Profitable, On Demand Retail Logistics
TEL AVIV, ISRAEL, August 1, 2017 –CommonSense Robotics, a leader in on-demand fulfillment technology, announced today that it has raised $6 million in seed funding from Aleph VC and Innovation Endeavors. CommonSense Robotics’ disruptive technology enables retailers of all sizes to offer one-hour delivery and make on-demand fulfillment scalable and profitable. The company is using the funds to expand the team, drive new product development and build out its operations towards its first deployments.
At a time when Amazon is making on-demand delivery an industry standard, brick-and-mortar retailers of all types are struggling to offer the service in a way that’s profitable and scalable. CommonSense Robotics merges the convenience of online purchasing with the immediacy of in-store shopping, empowering retailers to improve speed in the fulfillment and delivery processes and offer economically sustainable on-demand delivery.
“On-demand is rapidly becoming the standard for retail businesses of all sizes from across the spectrum, and will be a critical determining factor between success and failure,” said Elram Goren, CEO and Co-Founder of CommonSense Robotics. “Bringing together the most advanced technologies in robotics and AI, we are giving the world’s leading retailers the ability to stop catching up and start setting the pace.”
“I am fascinated by the world of hardware in general and robotics in particular,” adds Eden Shochat an Equal Partner at Aleph. “I have been looking for an opportunity to invest in an Israeli robotics company for a long time, but to date I have not found a company with a strong enough team, interesting technology and a huge potential market for a venture capital investment. All these components: The use of AI and robotics to automate and streamline the process of fulfilment and distribution can bring significant savings in time and money to the retailers, the end consumers and to the households. We are excited to work with this talented and experienced team and delighted that they have chosen Aleph and Innovation Endeavors as partners on their journey.”
Utilizing state-of-the-art robotics and AI, CommonSense Robotics creates Micro-Fulfillment-Centers, a new building block for the on-demand supply chain that combines the benefits of local and automated fulfillment, enabling a sustainable, on-demand experience. By utilizing an advanced approach that combines AI and robotics, CSR creates micro-fulfillment centers that maximize expensive retail space, enabling smarter, faster fulfillment and delivery of goods to customers.
About CommonSense Robotics:
CommonSense Robotics is building on-demand supply-chains that enable retailers to offer sustainable, one-hour delivery to online customers. Its Micro-Fulfillment-Center is an urban, automated fulfillment solution that combines the benefits of local distribution with the economics of automated fulfillment, and is redefining the way goods are delivered within cities.
By utilizing a novel approach to this last-mile challenge and state-of-the-art robotics and AI, CommonSense Robotics allows its clients to offer true on-demand services, dramatically reduce their operational costs and benefit from superior operational scalability. Founded in 2015, CommonSense Robotics is based in Tel Aviv. For more information visit https://www.cs-robotics.com/
About Aleph Venture Capital:
Aleph is an early stage venture capital fund with $334 million under management. Aleph partners with Israeli entrepreneurs to help scale them into large, meaningful companies and globally recognized brands. Aleph is an Equal Partnership of Eden Shochat, Michael Eisenberg and Aaron Rosenson.
Aleph invests in a broad range of software and software enabled services companies in industries such as Financial services (Lemonade, Colu), Transportation and Logistics (Freightos, Nexar), Sharing Economy (Wework, Honeybook) and Consumer Applications (Joytunes, Houseparty). To learn more about Aleph visit www.aleph.vc.
About Innovation Endeavors:
Innovation Endeavors is an early-stage venture capital firm partnering with startups that apply cutting edge technology to transform large industries. The firm runs a dedicated global team and builds industry networks to create value for its portfolio companies. Innovation Endeavors has offices in Silicon Valley and Tel-Aviv, and is solely backed by Eric Schmidt, the Executive Chairman of Alphabet, Inc.