Global spending on warehouse management systems is expected to hit $24 billion by 2028. This growth is attributed to the surge in e-commerce businesses and activities all over the world. At this point in time, the American intelligent location-aware warehouse management orchestration platform, Fulfilld comes to play.
To launch in UK and Europe
In a recent development, Fulfilld has picked up $2.5 million (nearly £1.8 million) in an oversubscribed seed funding round led by TenOneTen Ventures and co-led by Pi Labs, Europe’s most active proptech VC. Other investors in the round included seed stage venture fund Matchstick and former CEO of Amazon’s worldwide consumer business, Jeff Wilke.
The capital injection will enable Fulfilld to continue to execute its plans to create the first location-aware warehouse management orchestration platform leveraging 5G ultra-wide band real-time location services. With London-based Pi Labs as a venture partner, Fulfilld will be able to launch their solution in the UK and European market with warehouse operators facing labour shortages and supply chain issues due to Brexit and other factors.
Yosh Eisbart, Co-Founder and CEO of Fulfilld, commented: “Michael, Rick, and I – and the entire Fulfilld team – are thrilled to be partnering with such an amazing group of investors in building our dream software and hardware start-up from the ground up. Fulfilld is founded on decades of experience, industry-knowledge, passion, and grit within the enterprise world along with an intimate understanding of what warehousing operations truly need. We are simply giddy on being able to actualize our team’s vision into an industry both hungry and ready for disruption. Thank you, Pi Labs, TenOneTen, Matchstick, and Jeff for believing in us
Faisal Butt, CEO and Founder of Pi Labs, said: “Fulfilld is one of the most exciting solutions we have seen developed within the logistics sector, filling a large void in terms of enhancing warehousing operations, particularly at a time of growing labour shortages and supply chain disruption. This investment marks our first investment out of the US. We were impressed by the traction Fulfilld has achieved in the US and saw an opportunity to help accelerate their growth and expansion here in Europe.
“Human capital is one of the most important factors for us when we conduct our due diligence process, and we were incredibly impressed with Yosh and Michael given their proven track record in building and scaling international businesses. We believe in their vision and in their ability to achieve it, which is why we are proud to be co-leading their seed round to jump start their global growth journey.”
Minnie Ingersoll, Partner at TenOneTen, said: “The Fulfilld solution is addressing a genuine gap in the market between rigid legacy systems and newer start-ups that are not built to meet the needs of larger enterprise customers. This team has the experience to sell to the enterprise coupled with the start-up chops to build something from the ground up.”
Natty Zola, Partner at Matchstick Ventures, said: “Yosh and Michael bring a decade of experience and knowledge in the warehouse software integration space to Fulfilld. Their innovative technology can bring significant advantages to warehouse operators by streamlining operations, increasing worker productivity, which is what gives companies a competitive advantage as space is increasingly limited and expected delivery times continue to reduce due to consumer habits.”
One-of-a-kind warehouse management platform
Fulfilld was launched by serial entrepreneurs Yosh Eisbart, Michael Pytel, and Rick Fischer. It is the only location-aware warehouse management orchestration platform leveraging real-time workforce activity, focused on optimising core warehousing operations via a machine-learning system directing tasks between humans and robots.
Its cloud-based technology is powered by digital-twin warehouse virtualisation, 5G, and ultra-wide band connectivity. Fulfilld is targeted at enterprise midmarket customers within the warehousing, manufacturing, wholesale distribution, consumer packaged goods, automotive, and third-party logistics industries. Since its debut in December 2020, Fulfilld has already secured a growing waitlist of customers.
The post London’s Pi Labs participates in $2.5M oversubscribed seed round of warehouse management platform Fulfilld appeared first on UKTN (UK Tech News).
