Magazino raises $24.8 million funding

German logistics robotics start up Magazino has raised $24.8m in funding to continue robotics development as well as expand its sales and distribution network both within Germany and around the world.

Magazino develops and builds ‘perception driven’ mobile robots which automate handling and transport of foods in intralogistics in a flexible and scalable way. The technology enables dynamic warehousing and order picking as well as intelligent material disposition in assembly lines and e-commerce.

The German robotics company’s portfolio includes a range of robots that are used for various operations depending on the shape, size and weight of the objects they deal with. Central to this is the mobile order picking robot TORU that enables the handling and picking of individual objects including shoe boxes.

Frederik Brantner, co-founder and chief executive said: “With the involvement of leading technology corporations, as well as the largest European players in e-commerce and fulfilment, Magazino is perfectly positioned for continued growth.”