Myrmex Inc Athens, Greece

Company Website: https://myrmex-inc.com

Company Email: info@myrmex-inc.com

Employees: 40

Funding State: Series A


Industries

  • Logistics & Transportation

Technology

  • Robotics

Business Model

  • B2B

Revenue Model

  • Price per Item
  • Price per Use

Funding Sources

  • Grant
  • Other
  • VC

About

Myrmex, Inc., is a Robotic Material Handling company incorporated in Delaware, US. Currently, its research and development department is in Athens, Greece, where a team of brilliant engineers is developing disruptive material handling systems for the online grocery industry and other retail verticals. Our vision is to develop and market innovative order fulfillment solutions and last mile delivery business models for retailers and other verticals. More specifically, we aim to support retailers and other verticals in tackling the difficulties that they are currently facing while transforming their supply chains to address the complex problems they have.


Solution & Product

Myrmex products support all e-commerce verticals, including among others, grocery, cosmetics, shoes and apparel. Our current offering includes: ●Fully unmanned online orders’ boxes staging and marshalling ●Fully unmanned pickup units. ●Micro Fulfillment for online grocery as well as online for other verticals


Innovation & Scalability

The innovation of our systems consists of the combined use of Autonomous Mobile Robots and Mini Loads, together with the use of Roll Racks that carry bins with products. Roll Racks can be rolled by operators on the floor of a warehouse or a store when they are out of the robotic workplace. In the robotic workplace, the Roll Racks are securely placed (rolled) on bespoke pedestals. Then an AMR can move under the pedestal, lift it and transfer it from point A to point B within the robotic workplace. In addition to that, Roll Racks can be moved next to a Mini Load, where the robotic gripper of the Mini Load is able to fetch a bin hosted on a shelf of a Roll Rack and transfer it to another shelf of the same or another Roll Rack.


Traction & achievements

We have already signed a contract with OCADO and trying to extend this with another multimillion contract. We already have acquired three letters of Intent from local clients for projects that are beginning to take shape. We plan to sign contracts in the next few weeks. We are also in the pipeline for another pilot project in the USA with one of the biggest grocers.


Team & Why Us

George Katiniotis, CEO /CCo, is an engineer and C-level executive with more than 25 years experience in executive management, 10 of which in CEO positions. Prior to his assigment he was the CEO of a leading CEP company. He also worked in one of the biggest Greek banks as the CEO of a subsidiary. He served also as the CIPS leader in PwC Greece and as a Visiting Fellow of Nottingham Business School. A keen chess player, George Katiniotis has represented Greece in international tournaments. He is also a passionate runner and triathlete, having participated in numerous marathons and triathlon races around the globe. George holds a MSc Mech Eng degree of National Technical University of Athens and a MSc Engineering Business Management from the University of Warwick. Stefanos Hadjiagapis, COO, has over 25 years of experience in executive management both in start ups and multinational corporations. He started his career as R&D engineer and has served as Project Manager, Director, General Manager and VP as well as member of BoDs in Intracom (Global Telecom Systems Vendor), Conklin (Broadband Technologies, Atlanta USA), Encode (Information Security) and Mastoscopia (Medical Imaging, co-founder).Stefanos holds a MSEE degree of National Technical University of Athens and a PhD in Biomedical Engineering. Ioannis Kanellos, Founder/CMO/Product Architect, has led for more than 20 years, multiple projects in Greece and Eastern Europe.


Funding Needs

We are looking for series B funding for our research and development operations and plans as well as for securing clients projects.


ONE LINER

Material Handling Robotics Design and Manufacture


TEAM

George Katiniotis
George Katiniotis, CEO
Ioannis  Kanellos
Ioannis Kanellos, CMO
Orestis Fainekos
Orestis Fainekos, CTO
Stefanos  Ηatziagapis
Stefanos Ηatziagapis, COO

FUNDING

2021 - Series A, Startup Competition EUR 300K, OCADO
2020 - Series A, VC EUR 2.37M, Odyssey VC , Individuals
2020 - Series A, Other EUR 700K, Ocado
2015 - Pre Seed, Startup Competition EUR 710, Founders
2015 - Pre Seed, VC EUR 1000K, Odyssey VC

PATENTS

US Patent & Trademark Office - Awarded Pat No US 10762464 - Systems and methods for delivery of online orders
US Patent & Trademark Office - Awarded Pat No US 10242399 - Method and apparatus for a mobile robotic unit
US Patent & Trademark Office - Awarded Pat No US 10102563 - Method and apparatus for controlling an inventory/delivery carrier and hatch
International Patent - Pending PCT/EP2021/087662 - A system for handling containers -

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