Warehouse robotics maker Floatic raises $2.6 million in pre-Series A

Warehouse automation startup Floatic Robotics wrapped up its pre-Series A round with 3.4 billion won ($2.6 million). 

The Seoul-based company is developing a robotics solution that automates the process of storing and retrieving items from warehouses and logistics centers.

Be High Investment led the latest round of fundraising, in which Hyundai Motor Co.’s ZER01NE, Korea Development Bank, and the state-owned Industrial Bank of Korea also participated. Tech giant Naver Corp.’s D2SF furthered its investment in the startup as well.

Founded a year ago, Floatic received its first round of investment from D2SF and Kakao Corp.’s Kakao Ventures. 

The company’s CEO Lee Chan majored in mechanical engineering at Korea Advanced Institute of Science & Technology (KAIST) and worked at Naver Labs, Woowa Brothers Corp.’s Baedal Minjok delivery service. 

TIME AND COST REDUCTION

The startup is developing a robotics solution to automate the process of receiving and forwarding shipments at e-commerce operators’ logistics centers. The R&D is based on a robot’s autonomous driving and multi-robot control technology. 

The system is comprised of robots that can be used with existing warehouse management systems and collaborative robots that can be loaned out with a controlling software system. 

Because the system can be used without additional infrastructure, Floatic explains it will be helpful for small and mid-sized companies that want to keep the cost down. 

COMMERCIALIZATION 

The budding startup said it is aiming to start commercialization this year. 

Floatic completed the development of its core technology needed in optimizing the logistics centers’ workflow. 

It is also actively collaborating with domestic fulfillment startups such as Techtaka and DoHands. 

“We will use the latest injection of funds to recruit aggressively and cement our position as a robotics and AI firm that can solve issues facing the logistics industry,” Lee said. 

Write to Lan Heo at why@hankyung.com
Jee Abbey Lee edited this article.