Total amount raised
$293.5 Million
Latest funding date
2/1/2022
Location
Fabric has raised funding through five rounds, with the latest being a Series C round led by Temasek Holdings. The company is backed by 17 investors, including Princeville Capital and CPP Investments.
Keep reading to explore the intricacies of Fabric's fundraising journey and the investors backing this innovative platform.
What Is Fabric?
Fabric is a private company based in New York, New York, specializing in automated fulfillment solutions. The company operates in various industries, including e-commerce, logistics, retail, robotics, and supply chain management. With a workforce of 251-500 employees, Fabric focuses on enabling retailers to offer same-day delivery through a network of micro-fulfillment centers.
Fabric's solutions are designed to optimize inventory management, automate demand surges, and ensure high order accuracy. The company provides end-to-end software and proprietary robotics to streamline the fulfillment process, serving industries such as grocery, health & beauty, and quick commerce. Fabric supports clients with 24/7 monitoring and support, ensuring seamless operations.
How Much Funding Has Fabric Raised?
- Seed Round
- Amount Raised: USD 6,000,000
- Date: August 2017
- Lead Investors: Aleph, Innovation Endeavors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial technology and establish a market presence in the micro-fulfillment sector.
- Series A Round
- Amount Raised: USD 20,000,000
- Date: February 2018
- Lead Investors: Playground Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology stack for better fulfillment solutions.
- Series B Round
- Amount Raised: USD 110,000,000
- Date: February 2020
- Lead Investors: Corner Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To address high demand and explore opportunities beyond micro-fulfillment centers.
- Series C Round
- Amount Raised: USD 200,000,000
- Date: October 2021
- Lead Investors: Temasek Holdings
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand deeper into the grocery sector and e-commerce retailers across America and Israel.
- Non-Equity Assistance Round
- Date: June 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain initial support and resources for early-stage development.
Total Amount Raised: USD 336,000,000. Current Valuation: Over $1 billion.
Key Investors
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. It manages a diversified portfolio across various sectors and geographies.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences & agribusiness, energy & resources.
- Notable Investments: Alibaba, Airbnb, Gojek.
- Corner Ventures
- Details: Corner Ventures focuses on late-stage venture investments in technology companies. It aims to support companies through their growth phases.
- Investment Focus Areas: Technology.
- Notable Investments: Bird, DoorDash, Lime.
- Playground Global
- Details: Playground Global is a venture capital firm that invests in early-stage technology companies. It has a particular interest in hardware, software, and deep tech.
- Investment Focus Areas: Hardware, software, deep tech.
- Notable Investments: Nervana Systems, Rothy's, Canvas Technology.
- Aleph
- Details: Aleph is a venture capital firm that invests in early-stage technology companies. It aims to support innovative startups in their growth journeys.
- Investment Focus Areas: Technology.
- Notable Investments: Lemonade, Houseparty, WeWork.
- Innovation Endeavors
- Details: Innovation Endeavors invests in early-stage startups that are transforming industries through technology. It focuses on companies that drive significant change.
- Investment Focus Areas: Technology.
- Notable Investments: Uber, SoFi, Plenty.
What's Next for Fabric?
Fabric's future is brimming with opportunities, particularly in the grocery and e-commerce sectors. With partnerships with major retailers like Walmart and Instacart, the company is poised to expand its automated fulfillment technology across the U.S. and Israel. The online grocery market alone, valued at over $100 billion, offers a substantial growth avenue.
Given the high demand for efficient fulfillment solutions, Fabric is likely to attract further investment. The recent $200 million funding round, which brought its valuation to over $1 billion, sets a strong precedent for future fundraising. Investors are keen on supporting the company's expansion into broader supply chain applications.
However, challenges remain. Competition from other fulfillment technology providers and the need to scale operations efficiently are significant hurdles. Additionally, integrating their technology with existing systems used by larger retailers will require careful planning and execution. Despite these challenges, Fabric's innovative approach and strategic partnerships position it well for continued success.
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