"
Finance

Israeli Robot Startup BionicHIVE Isn’t Publicly Traded Yet

BionicHIVE SqUID warehouse robots

BionicHIVE’s core product is its orange and black SqUID robot, which can handle a variety of warehouse tasks automatically to streamline production and improve supply chains. According to Crunchbase, BionicHIVE’s solution has multiple autonomous robots with three-dimensional movement and a floor-to-ceiling picking face.

Article continues below advertisement

The autonomous robot is intended to automate tasks in existing warehouses and is able to retrofit the infrastructure already in place. The Times of Israel reported recently that many companies have started testing the BionicHIVE system, largely due to an increase in e-commerce amid the COVID-19 pandemic, which has led to a shortage of warehouse workers.

Article continues below advertisement

According to the company, the SqUID is “the only warehouse fully-automated solution that easily adapts to the customer’s current working model of operation.” It employs an embedded control system and real-time data analysis to its algorithmic engine, which enables it to analyze problems and apply solutions.

Liran Raizer, BionicHIVE’s co-founder and chief product officer, told Times of Israel, “Our rails just snap in like Lego, onto any shelf.” The SqUID robots can navigate warehouse floors with in-built cameras. They have the ability to avoid both static and moving objects (including people). Therefore, working alongside human warehouse employees is safe and feasible.

Article continues below advertisement

BionicHIVE CEO Ilan Reingold noted that while many automated solutions tend to be specific, which causes companies to have to build new warehouses to fit those specifications, SqUID is generalized to fit nearly any existing warehouse setup.

View more information: https://marketrealist.com/p/is-bionichive-publicly-traded/

See more articles in category: Finance
See also  Morgan Stanley Buys E-Trade, Closes Acquisition

Leave a Reply

Back to top button