U.S.-based IT company CognitOps, a provider of artificial intelligence-based warehouse applications, announces raising $ 11 million within the Series A funding round.
"CognitOps, a global provider of artificial intelligence-based warehouse operating applications, announces today that it has raised $ 11 million in a Series A round of financing. FirstMark Capital led the investment round, with all of the company's major investors participating, including Chicago Ventures, Schematic Ventures, Haystack, and CEAS Investments. Beth Ferreira, Partner at FirstMark, will join the CognitOps Board of Directors," the report says.
"CognitOps is tapping into a clear market need and is off to an explosive start. We believe they are at an inflection point to unleash the potential of the modern distribution center by leveraging artificial intelligence and data science at scale. The supply chain disruptions of the past 18 months have highlighted the pain points in the warehouse and have emphasized the market need for new, innovative solutions. CognitOps has only just begun to revolutionize warehouse operations and we are thrilled to be partnering with the team," Beth Ferreira, a general partner at New York City-based firm FirstMark Capital, said.
CognitOps also announced the creation of a new global headquarters in Austin, Texas and a software development center in Kyiv.