Photoneo Brightpick Group has announced that it has secured an additional US$19m (£15.4m) for its Series B funding round, bringing its total raised to US$40m (£32.4m).
The group is the parent company of Photoneo, a provider of robotic vision sensors and intelligence software, and Brightpick, which develops warehouse automation solutions for e-commerce and grocery order fulfilment.
Taiwania Capital led this most recent round, which also included contributions from prior investors IPM Group and Alpha Intelligence Capital.
Some additional investors in this round included H&D Asset Management, Venture to Future Fund and Kolowrat Group, bringing the company’s total capital raised since inception to a reported US$53m (£42.9m).
“We are seeing extremely strong interest from existing and new customers for Brightpick’s solution because it helps customers cut operating costs and eliminate labour challenges, two relevant concerns in today’s tough economic environment,” said Jan Zizka, CEO and co-founder of Photoneo Brightpick Group.
“These new funds will help us accelerate the pace of deployment of our solution and scale our US presence.”
Currently, the group has more than 300 employees and reports that its products have been used in more than 5,000 technology installations across the US, Europe and Asia.
The latest funding round will be used mostly to support new installations of Brightpick’s warehouse automation solution in the US, the company has said.
The solution takes a month to deploy and is designed to reduce warehouse picking labour by 95% and cut order fulfilment costs by 50%.