NEW YORK--(BUSINESS WIRE)--Jun 19, 2023--
Fabric, the technology company reshaping retail fulfillment, has scored two major wins for its innovative automated fulfillment solution.
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A Fabric ground robot delivers goods in a warehouse. Fabric’s cube-based storage system empowers retailers to grow and serve their customers like never before. (Photo: Business Wire)
The company was named to the inaugural XB100, the definitive ranking of the top 100 private deep tech companies, published by XPRIZE and Bessemer Venture Partners. Fabric also won Supply & Demand Chain Executive’s Top Supply Chain Products Award, which profiles innovative case study-type projects designed to automate, optimize, streamline and improve the supply chain.
Fabric’s high-density, high-throughput, cube-based storage system empowers retailers to grow and serve their customers like never before. Its proprietary hardware and software increase flexibility and adaptability across all aspects of retail fulfillment and drive results in categories from customer experience to maximizing existing real estate.
“We’re extremely grateful to be recognized for our efforts in providing strategic value and innovative solutions to retailers looking to modernize and optimize their e-commerce operations with our unique solution for automated fulfillment,” said Avi (Jack) Jacoby, Fabric’s CEO. "As Fabric supports retailers growing their online businesses, we look forward to continuing to provide a next-generation automated fulfillment solution that unlocks new levels of flexibility and adaptability, eliminating barriers to future growth.”
The XB100 was launched to celebrate the entrepreneurs who are commercializing scientific research into deep tech and spotlight how they are impacting our society across nine categories. The XB100 evaluation process involved ranking companies across four factors: impact on humanity, valuation, scientific difficulty and commercial traction. For impact on humanity, XB100 enlists the help of a judging panel of scientists and industry experts who assist in the evaluation.
“The companies on the XB100 list represent the most valuable and impactful private companies in the deep tech sector,” said Tess Hatch, partner at Bessemer Venture Partners. “The XB100 awardees defy imagination and will reshape the human experience.”
The Top Supply Chain Products Award profiles innovative case study-type projects designed to automate, optimize, streamline and improve the supply chain. The Fabric Partner Elite Program offers a solution to enhance the customer experience while cutting costs and improving efficiencies.
Fabric was selected for this award in recognition of its recent partnership with Synergy Design & Integration as part of the Partner Elite Program. Synergy is skilled in optimizing warehouse processes, improving the experience of human employees in the warehouse and streamlining the flow of goods. This partnership aims to help warehouse operators overcome a persistent labor shortage due to strenuous working conditions while lowering operating costs.
“From demand planning and forecasting to implementing the ultimate in warehouse automation, in the past 12 months we have seen companies within the supply chain and logistics space upgrade, enhance, adopt and adapt to achieve greater efficiency along the chain,” said Marina Mayer, editor-in-chief of Supply & Demand Chain Executive and Food Logistics. “That’s why it’s important today’s supply chains run on collaboration.”
The XB100 list is available online, as is the full list of Top Supply Chain Projects winners.
About Fabric
Fabric’s world-class automated fulfillment solution enables retailers to achieve profitable e-commerce fulfillment with high-throughput and high-density automation. The company’s proprietary solution includes both hardware and software designed through Fabric's years of experience operating e-commerce and grocery sites.
Fabric was established in 2015 and has raised $375M from leading investor partners, including Temasek, Corner Ventures, Union Tech Ventures, Playground, Innovation Endeavors & Aleph. Fabric is headquartered in Tel Aviv, with a main office in New York and teams throughout the United States. For more information, visit getfabric.com.
About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has $20 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos ) and also learn from its mistakes (see Anti-Portfolio ).
About XPRIZE
XPRIZE is a global future-positive movement delivering truly radical breakthroughs for the benefit of humanity. XPRIZE inspires and empowers a global community of problem-solvers to positively impact our world by crowdsourcing solutions through large-scale competitions, tackling the world’s grandest challenges in exploration, environment, and human equity. Donate, learn more or join a team at xprize.org.
About Supply & Demand Chain Executive
Supply & Demand Chain Executive is the only supply chain publication covering the entire global supply chain, focusing on trucking, warehousing, packaging, procurement, risk management, professional development and more. Supply & Demand Chain Executive and sister publication Food Logistics also operate SCN Summit and Women in Supply Chain Forum. Go to www.SDCExec.com to learn more.
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CONTACT: Treble
Monique Beals
fabric@treblepr.com
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: IOT (INTERNET OF THINGS) RETAIL TRANSPORT SOFTWARE ARTIFICIAL INTELLIGENCE NETWORKS SUPPLY CHAIN MANAGEMENT INTERNET ONLINE RETAIL HARDWARE ELECTRONIC COMMERCE DATA MANAGEMENT LOGISTICS/SUPPLY CHAIN MANAGEMENT TECHNOLOGY OTHER RETAIL ROBOTICS SUPERMARKET SPECIALTY
SOURCE: Fabric
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PUB: 06/19/2023 07:00 AM/DISC: 06/19/2023 07:00 AM
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