US food major Kraft Heinz has invested in an Israeli-technology start-up focused on e-commerce solutions via its investment arm Evolv Ventures.
Evolv has contributed to a US$110m series B investment round for Fabric, which develops so-called micro-fulfilment centers, or e-commerce systems essentially designed to get products to consumers more quickly. The technology employs robots for “rapid fulfilment of customer orders”.
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Elram Goren, Fabric’s co-founder and chief executive, said: “We are completely changing the game and helping businesses create a new e-commerce and fulfilment reality. Our goal is to help transform and advance the retail and logistics spaces by offering an on-demand fulfilment platform that increases customer satisfaction by providing faster deliveries, while simultaneously enabling businesses to maintain profitability.
“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.”
Fabric’s platforms use “advanced proprietary robotic technology to enable retailers and brands to offer profitable and fast fulfilment, whether for home delivery, curbside pick-up, or store replenishment”, a statement read.
The company was founded in 2015 and has offices in Tel Aviv and New York. It plans to launch its first site in New York in the “coming months”.
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By GlobalDataBill Pescatello, a managing partner of Kraft Heinz’s Evolv Ventures, added: “Fulfilment 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.
“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.”
Last year, Evolv invested in US-based cashier-less technology start-up Zippin.
