Ocado buys US robot startup for €10.2m
Ocado Group on Monday said it was buying US robotics startup Myrmex for €10.2m (£8m).
The company, which took a minority stake in Myrmex in 2020, will use its “frame loading” system to fill customer orders from Ocado warehouses to cut its wages bill.
The acquisition is expected to complete by 6 June this year. The value of the deal is €10.2m.
“We’ve been impressed with Myrmex’s capabilities and their ability to design, develop and bring to market bespoke solutions,” said James Gralton, chief engineering officer at Ocado Technology.
“The collaboration 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,” he added.
Myrmex was established in 2015 in the US with its research and development centre in Athens, Greece. It says its hardware and software are applicable to dark stores, click & collect and pick-up points, and can “facilitate the last-mile functions”.
A team of more than 30 people from the startup with expertise in automation hardware and software will join Ocado Technology’s 2,500-strong team of technologists.
