AutoStore

Based in Norway, AutoStore is a provider of order-fulfillment solutions through cube storage automation technology. The company reports that the system reduces storage footprints by around 75%, compared to traditional storage space. The system consists of a 3D aluminum grid structure on which the robots can move to pick items. The system can be used in different settings such as grocery retail, electronic retail, sporting goods retail, and shopping malls. In September 2020, the company introduced Router, a software update available for all AutoStore users, which increases robot productivity by up to 40%. As of September 2021, the company had more than 600 installations and 20,000 robots across more than 35 countries with offices in the US, UK, Germany, France, Poland, Singapore, and Japan. All Autostore sales are designed, installed, and serviced by more than 18 global and regional qualified system integrators including StrongPoint, Kardex, Swisslog, Samsung, Dematic, and Fives Group. The company has also established a testing center for micro-fulfillment robots and has partnered with specialty grocer H Mart to deploy a micro-fulfillment center. AutoStore expects to achieve USD 300 million in revenue in 2021 and USD 500 million in 2022, with a project pipeline of around 2,000 projects worth USD 3.4 billion.

The company filed a lawsuit against retailer Ocado in October 2020, claiming that it is the rightful owner of Ocado’s patented “Smart Platform” technology. In December 2021, AutoStore lost the lawsuit after the International Trade Commission (ITC) judgment stated that three AutoStore patents are invalid and that Ocado does not violate AutoStore patent rights. The decision reportedly does not have an impact on AutoStore’s operations in the US and globally and the company plans to challenge the judgment before the final verdict is issued in April 2022. The International Trade Commission (ITC) also stated in March 2022 that 33 claims in the US were also invalid and that Ocado does not violate AutoStore patent rights.

In October 2021, the company was listed on the Oslo Bourse in an initial public offering (IPO) raising USD 323.5 million, valuing the company at USD 12.4 billion. The funds were to be utilized to reduce the financial leverage of the company. This followed the Japanese multinational conglomerate SoftBank’s acquisition of a 40% stake in AutoStore in April 2021 for USD 2.8 billion, valuing the company at USD 7 billion. The acquisition was aimed at accelerating AutoStore’s global expansion, particularly in the Asia Pacific region.