Slovakia's Brightpick extends Series B to $40 million

Bratislava-based robotic vision and intelligence maker Photoneo, the parent company of Brightpick has extended its series B round with an additional $19 million to complete $40 million in funding.

Since its founding in 2013, the startup has raised a total capital of approximately $53 million.

Photoneo Brightpick Group is a provider of warehouse automation solutions for e-commerce and grocery order fulfilment across markets in the US, Europe and Asia.

The AI software company has over 300 employees and is used in over 5,000 technology installations across its markets. Its customers include leading companies such as General Motors, Volkswagen, and Kuka.

One of its recent involves the implementation of its order automation solution by Rohlik - one of Europe’s largest online grocers, with over 10 million orders per year and one million customers – in its Prague fulfilment centre.

The company said the "new capital will be used primarily to fund new installations of Brightpick’s warehouse automation solution in the US."

This most recent round was led by Taiwania Capital with follow-on investments by prior Series B lead investors IPM Group and Alpha Intelligence Capital. Other investors in the round include H&D Asset Management, Venture to Future Fund and Kolowrat Group.