Kraft Heinz joins blockbuster Fabric funding round
Israeli micro-fulfilment startup Fabric, formerly known as CommonSense Robotics, has added Evolv Ventures, the investment arm of Kraft Heinz, to its $110 million Series B funding round.
The amount of the additional investment was not disclosed. “We are completely changing the game and helping businesses create a new e-commerce and fulfilment reality,” says Elram Goren, Co-Founder and CEO, Fabric.
“This strategic investment by Kraft-Heinz will propel us forward, as we continue to expand in the US market and serves as an active endorsement of our micro-fulfilment solution by one of the biggest CPGs in the world.”
“Fulfillment is one of the largest issues holding back profitable e-commerce operations for retailers today. We believe the solution lies in more effective technology and automation, and Fabric has the technology, team and resources to lead this transformation,” says Bill Pescatello, Managing Partner at Evolv Ventures.
“This investment is another example of our dedication to game changing technologies that unlock the potential of e-commerce in the retail space and our continued commitment to ensure Kraft Heinz products are available in as many channels as possible, so they can be delivered to end consumers in the most convenient and efficient manner."