Leading AI and robotics company CommonSense Robotics secured new funding today for their fresh food delivery service. The company hopes to make fresh food delivery as fast as ordering a pizza. The Series A funding totalling $20 million takes the company’s total funding up to $26 million.
This latest round of funding was led by Playground Global. Previous investors Aleph VC and Eric Schmidt’s Innovation Endeavors are also included. CommonSense Robotics will use some of the funds to expand its facilities. The rest will go towards developing the next generation of AI and robotics plus global expansion.
Using the company’s advanced robotics and AI retailers will offer on-demand deliveries of fresh food within an hour at a profitable margin for the first time. Just over 23% of households in the US already do some grocery shopping online. The obstacle retailers struggle to overcome is consumers expecting high quality fresh food delivered quickly to their doorstep.
“The company’s use of advanced robotics to reimagine this industry will bring substantial opportunities to retailers, helping them cater to the needs of the next generation of consumers,” said Bruce Leak, Founder, Playground Global, “CommonSense Robotics understands that convenience is now paramount for shoppers, and is at the forefront of a major shift in consumer behavior. We are thrilled to be working with them, and look forward to seeing their impact on the retail industry across the globe.”
CommonSense Robotics’ plan is to utilise urban retail space and convert them into high capacity micro-fulfilment centres. Here robots will be used to store, sort and process inventory for retailers. This shortens the grocery supply chain getting inventory closer to customers as opposed to hangers miles away for cities. Using this service retailers have a ready made affordable distribution network. The company is currently in the process of deploying its first generation of robots into its inaugural facility. There are plans to open more facilities throughout the USA, UK and Israel this year.
“CommonSense Robotics’ urban fulfillment centers will vastly improve the cost and efficiency of supply chains that haven’t evolved in decades,” said Dror Berman, Founding Partner at Innovation Endeavors. “By implementing a rapid development cycle that brings together data, machine learning, and robotics, CommonSense is advancing a super evolution of logistics”
Speaking about the investment CommonSense Robotics CEO and co-founder Ellram Goren was obviously excited saying:
“We’re excited and honored to have Playground join us in this journey. Continued interest from investors is a major vote of confidence in our company and in our vision to make on-demand retail accessible to consumers and retailers alike. The epicenter of this shift is a drastic change to how food is accessed, bought, paid for and eventually prepared. We are excited to be facilitating a paradigm shift around how grocers sell and consumers access food. We believe our solution will play a critical role in how grocery and the food industry evolve.”