Israeli co CommonSense Robotics raises $6m

start-ups

The Tel Aviv based company's disruptive technology enables retailers of all sizes to offer one-hour delivery.

Israeli one-hour retail delivery developer CommonSense Robotics announced today that it has raised $6 million in seed funding from Aleph VC and Innovation Endeavors. Using artificial intelligence (AI) and robotics, CommonSense Robotics’ disruptive technology enables retailers of all sizes to offer one-hour delivery and make on-demand fulfillment scalable and profitable. The Israeli company is using the funds to expand the team, drive new product development and build out its operations towards its first deployments.

With Amazon making on-demand delivery an industry standard, brick-and-mortar retailers struggle to offer the service in a way that’s profitable and scalable. Tel Aviv-based CommonSense Robotics merges the convenience of online purchasing with the immediacy of in-store shopping, empowering retailers to improve speed in the fulfillment and delivery processes and offer economically sustainable on-demand delivery.

CommonSense Robotics cofounder and CEO Elram Goren said, “On-demand is rapidly becoming the standard for retail businesses of all sizes from across the spectrum, and will be a critical determining factor between success and failure. Bringing together the most advanced technologies in robotics and AI, we are giving the world’s leading retailers the ability to stop catching up and start setting the pace.”

“I am fascinated by the world of hardware in general and robotics in particular,” said Eden Shochat an Equal Partner at Aleph. “I have been looking for an opportunity to invest in an Israeli robotics company for a long time, but to date I have not found a company with a strong enough team, interesting technology and a huge potential market for a venture capital investment. All these components: The use of AI and robotics to automate and streamline the process of fulfilment and distribution can bring significant savings in time and money to the retailers, the end consumers and to the households. We are excited to work with this talented and experienced team and delighted that they have chosen Aleph and Innovation Endeavors as partners on their journey.”

Published by Globes [online], Israel business news - www.globes-online.com - on August 7, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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