Foley & Lardner LLP recently represented Instock Inc., an innovator in customer fulfillment robotics, in its most recent funding round. The round was co-led by Amazon Industrial Innovation Fund with participation from One Way Ventures, Lux Capital, Commerce VC, u.ventures, Cybernetix Ventures, and other investors active in the robotics and eCommerce ecosystem.
Instock delivers a fully as-a-Service Automated Storage and Retrieval Solution (ASRS) for eCommerce fulfillment operations. Its breakthrough technology addresses customer demand for agility and cost efficiency using a software-driven architecture, a high-fidelity simulation-first approach, and enabling self-service for day-to-day operations. Instock is making goods-to-person automation accessible to fulfillment businesses, aiming to improve flexibility, modularity, and price point.
Instock will use the funding to continue its plans to democratize the automation of storage and retrieval systems (ASRS) using gravity-defying robots. Instock plans to launch its first production system in 2024 with a tech-forward 3PL in North America.
The Foley team was led by partner Louis Lehot and of counsel Alidad Vakili and included associates Saige Gallop and Rossetti Farrell.