Nomagic – $8.6M investment round led by Khosla Ventures

We are delighted to announce that BB VC joined as investor in a $8.6M round confirmed by Kacper Nowicki, heading the team of our portfolio startup – Nomagic.

We were involved at 2 stages: (1) convertible note from our first fund ASI BB1 and (2) follow-on investment as part of an equity round led by Khosla Ventures with our ASI BB2 fund. All this fits the strategy of using several alternative investment funds, each designed for different type/stage of investment, allowing partial returns to our LPs after just 20+ months.

Nomagic provides the smartest pick & place robots to eliminate tedious tasks in warehouses while reducing cost per pick. Thanks to its unique AI and Cloud platform, its robots can complete a large variety of tasks to pick and place single products in warehouses with high reliability and flexibility. Nomagic works with leading European e-commerce platforms such as Cdiscount in France to integrate its solutions with existing storage, sorting and packing automated systems and help them move towards full automation – a Robot as a Service model to provide fast ROI for warehouse operations with minimal client oversight.

More good news from BB VC portfolio to come. Stay tuned!

Some of media coverage of today’s news:

#robotics #machinelearning #global