Robots - Wednesday, May 24, 2006
Another Phoenix From The Ashes of Webvan
We have seen several startups doing well by copying Webvan’s business model. The robotics startup Kiva System’s CEO and Founder Mick Mountz says his company was inspired by the challenges of material handling systems while working at online grocer Webvan. Says Mountz: “The complexity of existing equipment and processes and the resulting high cost of filling orders ultimately was the downfall of Webvan.”
Mountz set out to develop a better way to pick, pack and ship and has launched a warehouse system that can walk and talk on its own, where SKUs come to pickers when they need to fill an order.
Kiva Systems has brought in $10M in Series C led by previous investor Bain Capital Ventures. The startup says it did a full-scale test for the Staples.
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