Ocado buys robotics start-up for $10.2m as online retail giant eyes automating grocery pick-ups
Online grocer Ocado has inked a deal to buy a materials handling robotics start-up for $10.2m.
In a deal worth the equivalent of £8.11m, Ocado has agreed to buy Myrmex, it announced on Monday.
The UK supermarket snapped up a minority stake in the Athens-based firm in 2020.
Myrmex was instructed to develop a programme that automates the loading of containers with customer orders onto frames ready for dispatch from Ocado’s warehouses, news agency Reuters reported.
James Gralton, chief engineering officer at Ocado Technology said: “We’ve been impressed with Myrmex’s capabilities and their ability to design, develop and bring to market bespoke solutions. The collaboration between Ocado Group and Myrmex led to the launch of Automated Frameload in a little over a year.
“This acquisition is another important step on our automation journey and provides an opportunity to further grow and expand our engineering presence in Southern Europe as we continue to invest in developing Myrmex’s technologies for the Ocado Smart Platform.”
A team of more than 30 people from Myrmex , who specialise in deep domain expertise in automation hardware and software, are set to join Ocado Technology’s 2,500-strong team of technologists.