The Munich robotics startup Magazine has completed a financing round of €20.1 million. The new investors include Zalando, the technology group Körber, Cellcom, and Fiege Logistik. The startup aims to use the fresh capital to expand sales in Germany and abroad and advance the development of its robots.
Founded in Munich in 2014, Magazino, a startup with 80 employees, develops and produces mobile transport robots for logistics. With precise access to individual items, Magazino automates one of the last remaining manual logistics processes. This opens up new opportunities for logistics to streamline process steps. Co-founder and CEO Frederik Brantner says:
"We are very pleased with the composition of the investor group. With the participation of leading technology companies, as well as the largest European players in e-commerce and fulfillment, Magazino is perfectly positioned for further growth."
First customer, then investor
David Schröder, Senior Vice President Convenience at Zalando, says about the deal:
"Our investment in Magazino secures us a future-oriented technology that is highly compatible with our existing infrastructure and can be used flexibly to support employees in our logistics centers in the future."
The Munich-based startup has developed innovations that have the potential to change intralogistics sustainably, says Michael Horn, Member of the Executive Board of Körber:
"The partnership offers significant added value, especially for customers in our Logistics Systems business unit. At the same time, the investment strengthens our position in a competitive market environment. Furthermore, we will continue to drive forward further pioneering developments together with the Magazino team as part of our digitalization initiatives."
The new investor Fiege Logistik is already using the Munich-based robots to pick shoes ordered onlineThe family business has ordered 30 more robots from Magazino. Jens Fiege says:
"We will continue to deepen our partnership with Magazino, which has now lasted two years, and are pleased to be able to make an even greater contribution to the joint development of robotics in logistics. We are convinced that this technology will significantly shape the future of logistics."
