Nomagic, a provider of AI-powered robotics for warehouses and the fulfilment sector, has successfully closed a US$44m investment round.
The company plans to utilise the funding to expand its operations across Europe over the next two years and continue advancing its robotics and AI technologies.
The investment round, led by the European Bank for Reconstruction and Development (EBRD) through its Venture Capital arm, also saw participation from existing investors Khosla Ventures and Almaz Capital, along with venture debt previously secured from the European Investment Bank (EIB).
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Nomagic’s AI-powered robotics solutions have a presence across several industries, including fashion, general merchandise, pharmaceuticals, and groceries. The company has said that it expects to scale the number of sites with more than 10 robots in the coming years, reflecting increasing demand from both new and existing customers.
The recent funding round further cements Nomagic’s position as a leader in the robotics and AI field, with the company poised to continue driving advancements in warehouse automation technology.
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