TEL AVIV (Reuters) - Israel’s CommonSense Robotics, whose technology enables retailers to offer quick and affordable grocery deliveries, said on Thursday it has raised $20 million in an early-stage investment round, bringing its total funding to $26 million.
The round was led by Playground Global and includes previous investors venture capital fund Aleph and Eric Schmidt’s Innovation Endeavors.
The funds will be used to scale up CommonSense Robotics’ deployment rate, develop their next generation of robotics and artificial intelligence and expand global operations.
CommonSense Robotics said its solution enables retailers to shorten the grocery supply chain by transforming underutilized urban retail space into centers where robots will efficiently store, sort and process inventory. This allows retailers to keep their inventory close to customers, not in hangars far removed from cities.
The company is deploying its robots in its first operational facility and plans to open more facilities in the United States, UK and Israel in 2018.
Reporting by Tova Cohen