Marble Raises Series A Funding To Reimagine Last-Mile Logistics
Company Plans Expansion to New U.S. Markets With Top Roboticists and New Robot
San Francisco, Calif., April 24, 2018 - Marble, the last-mile logistics company, today announced that it has closed $10 million in Series A funding with participation by Tencent, Lemnos, Crunchfund, and Maven. With a total of $15 million in funding to date, Marble will continue development of its technology, expand to new geographies and grow the team.
E-commerce is experiencing a new paradigm shift where it’s often easier and cheaper to buy a pair of shoes 100 miles away than get to a store a mile away. Yetf as e-retail revenues are projected to grow to $4.88 trillion dollars in 2021, innovation in last-mile logistics to solve for the massive influx in ecommerce sales remains stagnant. Double-parked delivery trucks make up to ten percent of traffic congestion in some cities, which comes in the form of 30-minute deliveries of food, two-hour delivery windows for groceries, and Prime-style deliveries of packages within a few hours or days of your online purchase.
“The way that goods are delivered to your doorstep hasn’t changed,” said Matt Delaney, CEO and Co-Founder of Marble. “We need to move towards a more efficient, sustainable supply chain model where we’re solving for the logistical headaches that plague the ecommerce economy, like stolen packages, order returns, and failed delivery attempts. While self-driving cars are still years away, we’re excited about the short-term possibilities for our robots to re-architect this new economy we live in.”
Marble's funding follows the company’s rapid growth, which has seen the team double over the past year, boasting leading roboticists with backgrounds working in labs at Carnegie Mellon University Robotics Institute, Stanford, University of Pennsylvania, and Oxford and at companies like Apple, SpaceX, Amazon, Zoox, Velodyne and NVIDIA. The company also brought on advisors specializing in transportation and public policy to lead the conversation with elected officials and community groups on the social impact delivery robots can provide to local neighborhoods.
"Logistics is one of the largest value chains in existence. Lemnos strongly believes that Marble's industry-leading autonomy stack, delivery vehicles, and software will unlock tremendously important and valuable use case scenarios for global retailers, enterprises, and logistics providers,” said Eric Klein, Partner at Lemnos. “Almost three years ago we were excited to be Marble's first investor, and today we're equally as excited to join leading VCs in helping Marble continue its journey to revolutionize last-mile logistics." The company has expanded deliveries from San Francisco to the East Bay, and plans to roll out the second generation of its autonomous sidewalk-delivery robot this year as it enters new markets across the U.S.
The company will continue testing and developing its unique technology with a focus beyond food delivery logistics into groceries,retail, pharmacy and more.
Marble is a technology company with a mission to re-engineer last-mile logistics using autonomous robots. Founded in 2015, Marble’s robots make supply chains more nimble and provide a more efficient, sustainable way to transport goods short distances, including from the shelf to the truck, the curb to the front door, across the distribution center, or within neighborhoods. Marble has raised $15 million to date, with headquarters in San Francisco, California. For more information, please visit http://www.marble.io/.