Photoneo Brightpick Group, the parent company of Photoneo (a software provider) and Brightpick (a provider of e-commerce warehouse automation solutions), announced the completion of a $40 million Series B investment round. This round was led by Taiwania Capital, IPM Group and Alpha Intelligence Capital.

Founded in Bratislava by Branislav Pulis, Jan Žižka, Michal Malý and Tomáš Kováčovský, Brightpick Group is a leading robotics and artificial intelligence company with more than 300 employees and 5,000 technology installations in the US, Europe and Asia. Its customers include leading companies such as General Motors, Volkswagen and KUKA.

The US currently accounts for 25% of Photoneo Brightpick Group's revenue. The recent funding will primarily be used to support the implementation of Brightpick's warehouse automation solutions in the US. Brightpick is actively deploying its warehouse automation solutions in Europe, including the Rohlik Group.

Warehouse automation is the process of replacing repetitive tasks with automated systems. The goal is to eliminate laborious and time-consuming duties. Automation can improve key performance indicators and have an immediate impact on customer service, including improved accuracy, quality and speed of order fulfillment. This transformation is coming faster than you might think. In fact, according to research in MHI's 2022 Annual Industry Report, only 28% of leading supply chain companies have currently implemented automation into their processes, but that number is expected to reach 79% by 2027.

New technologies such as robotic "put walls" can increase efficiency and speed up order processing. These systems increase order consolidation, picking productivity and accuracy. They can help workers sort orders up to three times faster than manual processes. This not only increases sorting efficiency, but also picking efficiency, as the system can process multiple orders simultaneously, resulting in more than a 30% increase in picking productivity. Companies can also leverage digitization and artificial intelligence for better inventory management and many other technologies.

With the increasing complexity of logistics, businesses are turning to automated solutions for managing and handling goods in their warehouses. This includes incorporating warehousing and internal transport systems using technologies such as machine learning and the Industrial Internet of Things (IIoT) into new logistics centres.