American IT company CognitOps raises $ 11 mln, creates development center in Ukraine 2 min read
U.S.-based IT company CognitOps, a provider of artificial intelligence-based warehouse applications, announces raising $ 11 million within the Series A funding round. CognitOps, a global provider of artificial intelligence-based warehouse operating applications, announces today that it has raised $ 11 million in a Series A round of financing. FirstMark Capital led the investment round, with all of the company s major investors participating, including Chicago Ventures, Schematic Ventures, Haystack, and CEAS Investments. Beth Ferreira, Partner at FirstMark, will join the CognitOps Board of Directors, the report says. CognitOps is tapping into a clear market need and is off to an explosive start. We believe they are at an inflection point to unleash the potential of the modern distribution center by leveraging artificial intelligence and data science at scale. The supply chain
Three Austin-based technology startups have raised a combined $22.5 million in three separate funding deals this week.
CognitOps, an artificial intelligence startup focused on warehouse operations, has raised $11 million, robotics company Harmonic Bionics raised $7 million and Expressable, a digital speech therapy startup, raised $4.5 million.
CognitOps
makes a platform that automates and augments existing warehouse management processes using machine learning and artificial intelligence. CEO Alex Ramirez and chief operating officer Reas Macken founded the company in 2018 after working together in other warehouse technology operations.
The round was led by FirstMark Capital and included investments from the company s previous major investors, including Chicago Ventures, Schematic Ventures, Haystack and CEAS Investments.
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CognitOps, a global provider of artificial intelligence-based warehouse operating applications, announces today that it has raised US$11 million in a Series A round of financing. FirstMark Capital led the investment round, with all of the company s major investors participating, including Chicago Ventures, Schematic Ventures, Haystack, and CEAS Investments. Beth Ferreira, Partner at FirstMark, will join the CognitOps Board of Directors. CognitOps is tapping into a clear market need and is off to an explosive start, says Beth Ferreira, a general partner at New York City–based firm FirstMark Capital. We believe they are at an inflection point to unleash the potential of the modern distribution center by leveraging artificial intelligence and data science at scale. The supply chain disruptions of the past eighteen months have highlighted the pain points in the warehouse and have emphasized the market need for new, innovative solutions. CognitOps has only just begun to revo
Torch Raises $3.5M Seed Funding Led by Maersk Growth
Torch, the first short-haul freight network, announced the close of a $3.5 million seed round led by Maersk Growth, with participation from Schematic Ventures, Bluestein Ventures, Anorak Ventures, Supply Chain Ventures, and SaaS Ventures. Additionally, Torch announced Mike Bosch and Robert Baggio have joined its executive team.
“The pandemic has accelerated the already growing demand for reliable short-haul capacity, and stretched the boundaries of supply chain networks,” said Torch CEO and Founder Abtin Hamidi. “Over the past decade, the average length of haul has decreased by more than 30% due to e-commerce and the dynamics of retail, CPG and other shippers. The majority of the truckload transactions are now considered short-haul, yet there are very few reliable, consistent options for shippers that are founded in digital principles.”
Torch, a Chicago, IL-based short-haul freight network company, closed a a $3.5m seed funding round.
The round was led by Maersk Growth, with participation from Schematic Ventures, Bluestein Ventures, Anorak Ventures, Supply Chain Ventures, and SaaS Ventures.
The company intends to use the funds to expand its network and analytics capabilities, as well as customer service efforts.
Led by CEO and Founder Abtin Hamidi, Torch provides blue-chip clients across the country with a technology platform that creates an experience tailored to the specific needs of shipments under 550 miles.
Additionally, Torch announced that Mike Bosch joined as VP of Engineering while Robert Baggio joined as VP of Operations and Strategy.