CALGARY-BASED ATTABOTICS TO RECEIVE $34 MILLION FROM FEDERAL GOVERNMENT

CALGARY-BASED ATTABOTICS TO RECEIVE $34 MILLION FROM FEDERAL GOVERNMENT

The announcement is set to be made Tuesday morning. The Strategic Innovation Fund financing is for a $73.3 million project Attabotics is working on.

“We look forward to using these funds to further grow our business and create even more opportunities for the local economy.”

Founded in 2015, Attabotics will use the funds to further develop and bring to market its robotics warehouse technologies. Through the project the startup has agreed to maintain a minimum of 165 employees a year and create 449 new jobs by 2031. Attabotics has also committed to investing hundreds of millions in R&D by 2038.

The $34 million is in addition to $6 million through the Industrial Research Assistance Program (IRAP) and $5 million through Western Economic Diversification Canada that Attabotics received in previous years. The IRAP and RDA funding were used for other undisclosed projects. 

In August, Attabotics raised $65.9 million CAD ($50 million USD) in a Series C round of funding, and raised $25 million in a Series B round of funding in 2019. 

“The hard-working people at Attabotics have made the company a great example of a Canadian success story,” said Ali Ehsassi, parliamentary secretary to Navdeep Bains, the minister of innovation, science and industry. “Today’s announcement will build on Canada’s global leadership in AI by supporting Canadian research and bringing a one-of-a-kind robotic technology to market that will create good jobs and boost Canadian economic growth. This investment will help restart Canada’s economy and help grow it back better in the wake of the COVID-19 pandemic.”

RELATED: Food-X Technologies brings on Attabotics to streamline its fulfillment operations

Attabotics, which has created a robotic warehousing and fulfillment system, uses manufacturing practices and automation technology to offer a 3D robotics supply chain system. The process condenses a warehouse into a single vertical storage structure that uses robotic shuttles travelling horizontally, vertically, on top of and underneath the structure to store and access goods. Attabotics claims its technology has the potential to significantly increase efficiency and reduce energy consumption compared to traditional large-scale centres, while reducing overall warehouse needs by 85 percent. 

“We are so proud to be part of the evolving tech ecosystem here in Canada and are truly honored to have the support from the Government of Canada,” said Scott Gravelle, founder, CEO, and CTO of Attabotics. “The talent responsible for building Attabotics’ system from the ground up came from Calgary, and we look forward to using these funds to further grow our business and create even more opportunities for the local economy.” 

Image courtesy Attabotics.

Original article on Betakit, by Scott McLean, December 15th, 2020