Noyes has developed a fully automated, AI-based and modularly designed warehouse system in recent years. The solution requires minimal space and is therefore particularly suitable for small areas, such as in major city locations. The startup primarily targets quick commerce and e-commerce providers as well as parcel service operators. After a successful seed funding of 3.2 million euros in 2021, the startup ultimately failed to secure follow-on financing. In November 2023, Noyes then finally entered provisional insolvency administration.
The insolvency court appointed Munich specialist lawyer for insolvency and restructuring law Rolf Pohlmann as provisional insolvency administrator. His law firm Pohlmann Hofmann also managed the insolvency of Franka Emika, among others. Pohlmann initiated a comprehensive M&A process, which ultimately resulted in a bidding competition that the Austrian Knapp Group won.
All Noyes jobs remain
Knapp develops and produces intelligent system solutions using digitalization, software, automation, and robotics solutions. Founded in 1952 by inventor and engineer Günter Knapp as a sole proprietorship with 2 employees in Graz, the group today employs around 7,500 employees at 62 locations worldwide.
As of February 1, the newly established Knapp Nano Warehousing Beteiligungs GmbH took over the business operations of Noyes Technologies. Under the future name Noyes Robotics, operations will continue, with all 19 employees at the Munich location being retained. Knapp now intends to continue development and delivery of the warehouse system while maintaining existing business relationships with customers and business partners.
