Takeoff Technologies raises $12.5M to put the grocery store at your fingertips

by Justine Hofherr
February 1, 2018
takeoff technologies
Photo via Takeoff Technologies

Retail giants like Amazon have reaped great financial success by making it possible for consumers to order almost anything online and have it shipped to their door in a matter of days, so it’s no surprise that other startups want to get in on the online ordering game.

One such company is Takeoff Technologies, a Cambridge-based startup that hopes to transform the grocery market industry with robots.

Takeoff raised a $12.5 million round of funding this week, which was disclosed in a Wednesday filing with the U.S. Securities and Exchange Commission. The filing shows that 13 investors participated in the round, listing Annette Franqui, a founding partner at Forrestal Capital, as one of the directors.

According to BostInno, the goal of Takeoff’s online ordering and automation platform is to make grocery shopping easier for consumers by letting them place an order from their computer, while also reducing the footprint of grocery stores to as little as 3,000 square feet — less than 1/10th of the space of a traditional supermarket.

The startup’s automated inventory management system boats that it can fill an order in “less than 15 minutes.”

Rather than visiting a brick-and-mortar store to buy groceries, Takeoff has built mini-warehouses where consumers can pick up their online orders. Takeoff also offers an option to have groceries delivered right to your door.

By cutting out the usual labor and real estate costs, Takeoff hopes to drastically lower the price of groceries.

Jobs at Takeoff Technologies

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