Gideon Brothers Raises $31M for Autonomous Warehouse Robots | Croatia

Gideon Brothers Secures $31 Million Series A Funding

Demonstrating the continued strength of Central and Eastern Europe in hardware and software engineering, Gideon Brothers (GB), a robotics and AI startup located in Zagreb, Croatia, has successfully closed a $31 million Series A funding round.

Koch Disruptive Technologies (KDT), the venture growth division of Koch Industries Inc., spearheaded the investment. Additional participation came from DB Schenker, Prologis Ventures, and Rite-Hite.

Existing Investors Also Contribute

The funding round also saw contributions from several of Gideon Brothers’ current investors. These include Taavet Hinrikus, co-founder of TransferWise, alongside Pentland Ventures, Peaksjah, HCVC (Hardware Club), Ivan Topčić, Nenad Bakić, and Luca Ascani.

Investment Focus: AMR Development and Expansion

The newly acquired capital will primarily fuel the acceleration of development and commercialization efforts for GB’s AI and 3D vision-driven autonomous mobile robots (AMRs).

These robots are designed to automate routine tasks like transporting, picking, and delivering goods, thereby allowing human employees to concentrate on more complex and valuable work.

Furthermore, the company intends to broaden its operational reach within the EU and the U.S. through the establishment of new offices in Munich, Germany, and Boston, Massachusetts.

Robotics Solutions for Diverse Industries

Gideon Brothers specializes in creating robots and the associated software platform. Their solutions cater to horizontal and vertical handling needs across logistics, warehousing, manufacturing, and retail sectors.

The demand for robotic automation within supply chains has seen a significant surge, particularly in light of recent global events.

CEO on Market Demand and Strategic Partnerships

Matija Kopić, CEO of Gideon Brothers, stated: “The pandemic has dramatically increased the rate of adoption for smart automation technologies, and we are well-positioned to address the unprecedented demand.

“We aim to achieve this by integrating our unique solutions with the largest and most demanding clients. Our strategic partners face challenges that our robots are already resolving, and together, we are capitalizing on the opportunity to drive robotic transformation within leading organizations.”

He further emphasized: “Collaborating with these progressive industry leaders will facilitate our global expansion, while we remain committed to our Croatian origins. This represents a key strength for us, as the Croatian startup ecosystem is experiencing rapid growth, and we are dedicated to unlocking further opportunities for our nation to become a prominent hub for robotics and AI.”

Industry Leaders Weigh In

Annant Patel, Director at Koch Disruptive Technologies, commented: “KDT, with over 300 Koch operations and production facilities worldwide, recognizes the distinct capabilities and potential of Gideon Brothers’ technology.

“Their advancements promise to significantly reshape warehouse and manufacturing processes through the application of cutting-edge AI and 3D AMR technology.”

Xavier Garijo, a Board of Management member for Contract Logistics at DB Schenker, added: “Our partnership with Gideon Brothers ensures access to leading-edge robotics and intelligent material handling solutions, enabling us to serve our customers with maximum efficiency.”

Competitive Landscape

Gideon Brothers operates within a competitive market, facing competition from companies such as Seegrid, Teradyne (MiR), Vecna Robotics, Fetch Robotics, AutoGuide Mobile Robots, Geek+, and Otto Motors.