Robotics Firm Floatic Secures KRW 5.2 Billion in Pre-Series A for Logistics Automation
Reading Time: 2 minutesFloatic, a South Korean logistics robotics solutions company, has successfully secured a pre-Series A bridge investment of KRW 5.2 billion. The round was led by Capstone Partners, with participation from Quantum Ventures Korea, Bluepoint Partners, BNK Venture Investment, and BSK Investment, bringing together a total of five institutions.
Established in 2021, Floatic received seed investment from Kakao Ventures and Naver D2SF shortly after its inception. It followed this with a pre-Series A investment of KRW 3.4 billion in 2022. With this latest bridge investment, the cumulative funding raised by Floatic has reached approximately KRW 10 billion.
Floatic develops ‘Floware’, a robotic solution designed to automate logistics centers, specifically targeting the time-intensive picking process in e-commerce logistics operations. Floware enables integration with existing systems and can be operational within approximately six weeks, requiring minimal facility adaptations and investment costs. It can enhance productivity by up to 3.5 times compared to traditional manual operations.
The solution consists of autonomous robots equipped with a highly modular software platform tailored to the logistics environment and intuitive features such as a ‘Picking Guide’. Floatic’s in-house design and manufacturing of both software and hardware allow it to adapt quickly and flexibly to diverse logistics center needs, offering a significant advantage.
In 2023, Floatic was recognized as one of Asia’s top 100 promising companies by Forbes, the only robotics company from South Korea to be listed. Since last year, the company has conducted field pilot tests with major domestic corporations and 3PL providers, and is gearing up for full-scale commercialization of its products in the latter half of this year through partnerships with leading logistics players like POSCO DX and LOGISALL.
Capstone Partners, which spearheaded this funding round, commented, “We rate Floatic’s potential for success highly due to its relentless pursuit of customer-centric solutions and problem-solving. We anticipate that it will not only become a formidable force in the logistics automation sector but also set the pace for industry trends.”
Lee Chan, CEO of Floatic, stated, “Every day, logistics centers face a myriad of uncertain variables. It’s challenging to provide necessary solutions without a deep understanding of the field. Our ability to bring a product to commercialization within three years of our founding stems from our commitment to developing products that heed the voices from the field. Moving forward, we will continue to focus on our customers and develop tailored solutions that leverage our deep insights and expertise in the logistics environment.”
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