Nimble Raises $106 Million in Series C Funding, Valued at $1 Billion: FedEx Leads Investment
Nimble Secures $106 Million in Series C Funding, Reaches $1 Billion Valuation with FedEx Leading the Round
Nimble, a cutting-edge AI robotics and autonomous e-commerce fulfillment technology company, has just announced the successful closing of a $106 million Series C funding round, propelling the company to a $1 billion valuation. The funding round was led by global logistics giant FedEx and co-led by existing shareholder Cedar Pine.
This significant investment marks a strategic alliance between Nimble and FedEx, as FedEx has entered into a commercial agreement to scale its FedEx Fulfillment service using Nimble’s groundbreaking technology and fully autonomous 3PL model. This move underscores FedEx’s confidence in Nimble’s innovative technology and its potential to revolutionize the logistics industry.
The new funding will be utilized to ramp up robot manufacturing and system deployments, as well as to further advance research and development efforts towards Nimble’s mission of pioneering autonomous logistics. With over 90% of warehouses still operating manually with minimal robotics integration, Nimble aims to disrupt the industry by introducing intelligent general-purpose warehouse robots capable of performing all core fulfillment functions, including storage and retrieval, picking, packing, and sorting.
Nimble’s autonomous fulfillment centers are powered by its Cloud Logistics Platform, which orchestrates fleets of general-purpose warehouse robots. This platform offers omni-channel brands a comprehensive solution that manages and optimizes logistics operations while providing real-time visibility and control across the entire supply chain.
Key figures in the industry have expressed their excitement about Nimble’s technology and its potential impact on the fulfillment sector. Fei-Fei Li, AI pioneer and Nimble Board Director, praised Nimble for unlocking a new generation of fully autonomous fulfillment centers that are simple, reliable, and cost-efficient. Simon Kalouche, founder and CEO of Nimble, highlighted the company’s ability to streamline operations and reduce costs with its turnkey autonomous fulfillment centers.
Scott Temple, President of FedEx Supply Chain, emphasized the benefits of scaling with Nimble’s technology to enhance operational efficiency and provide a superior fulfillment service to customers. Stephen Weiss, a Nimble Board Member and Managing Director at Cedar Pine, expressed excitement about supporting Nimble’s growth and transformation of the fulfillment industry.
Overall, Nimble’s latest funding round and strategic partnership with FedEx signal a new era in autonomous logistics and fulfillment technology, with the potential to drive significant efficiencies and innovation in the industry.
