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Logistics Platform Fabric Raises $110 Million In Funding

Logistics Platform Fabric Raises $110 Million In Funding

Fabric, a logistics platform for enabling on-demand fulfillment, has closed on a $110 million Series B funding round led by Corner Ventures with participation from Aleph, Canada Pension Plan Investment Board (CPPIB), Innovation Endeavors, La Maison, Playground Ventures and Temasek. The platform provider will use the money to accelerate its growth in the U.S., where it is building infrastructure for micro-fulfillment centers designed to improve last-mile logistics.

Fabric’s solutions enable micro-fulfillment, such as a 6,000 square foot fulfillment center that is capable of processing up to 600 orders a day. The customizable facilities can be designed with each retailer’s personal inventory level, desired reach and capital expenditure requirements in mind. The solution is suited for both home delivery and restocking storefronts.

The solution provider is building an automated grocery site with three temperature zones in Israel, with plans for 12 more facilities. Fabric will open another site in NYC in Q1 2020, with plans to build 13 more across the U.S., including several later in 2020.

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The company changed its name from CommonSense Robotics to Fabric in September, seeking to focus more on logistics than its robotics-driven origins.

This latest fundraising round brings Fabric’s total capital to $136 million. The company previously raised $20 million in a Series A round led by Playground with participation from Aleph and Innovation Endeavors.

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