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Floware includes AMR, fleet management software, real-time performance dashboards, and more. | Credit: Floatic
Floatic, a South Korea-based warehouse robotics solutions provider, has raised $3.8 million in a pre-Series A bridge round. The investment was led by Capstone Partners, with participation from Quantum Ventures Korea, Bluepoint, BNK Venture Investment, BSK Investment, and others.
Flotic has raised a total of $8 million since its founding in 2021. The company secured seed investment from South Korean tech giant Naver's D2SF and Kakao's Kakao Ventures shortly after its founding, and raised $2.5 million in a pre-series A round in 2022.
The company plans to use the funds to expand its research and development activities and strengthen its product, with a view to commercializing it this year.
Floatic develops and delivers Floware, a robotic system for e-commerce picking that the company says offers a complete solution, from integration to deployment and operation in less than six weeks, with minimal infrastructure and financial requirements. Floatic claims that this approach increases productivity by up to 3.5 times compared to manual picking.
Floware consists of autonomous mobile robots (AMRs) designed specifically for warehouses and a management platform customized to optimize warehouse workflows. The solution includes features such as “guided picking” and modular software algorithms that enable flexible operation and real-time management.
“Warehouses experience a lot of daily fluctuations and without a proper understanding of the field it is difficult to provide the necessary solutions,” said Chan Lee, CEO of Flowtic. “We value our users' feedback and have developed our products based on this from the very beginning, which makes a crucial difference to our solutions.”
The company is currently conducting local demonstration experiments with 3PL companies and local warehouses, and plans to collaborate with leading Korean logistics partners such as POSCO DX and LogisALL in order to aim for full-scale commercialization in the second half of this year.
“With a relentless focus on the market from a user-centric perspective, we will continue to invest in developing and creating the viable robotics solutions needed to establish the most efficient warehouse environment,” Li added. “This funding will provide a strong impetus to achieve this goal. We would like to thank all our investors for supporting us.”
