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Venture Capital
uniontech.co.il

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Investments

14

Portfolio Exits

2

About Union Tech Ventures

Union Tech Ventures invests in mobility and retail technology companies developed by Israeli-related entrepreneurs.

Union Tech Ventures Headquarter Location

67 Yigal Alon

Tel Aviv, 67443,

Israel

+972 74 7155544

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CB Insights Intelligence Analysts have mentioned Union Tech Ventures in 1 CB Insights research brief, most recently on Nov 4, 2019.

Latest Union Tech Ventures News

Israeli-Founded Logistics Firm Fabric Is Now A Unicorn

Oct 28, 2021

Courtesy Israeli-founded warehouse automation logistics startup Fabric announced on Tuesday that it has closed a $200 million Series C funding round led by existing investor Temasek, with participation from Koch Disruptive Technologies, Union Tech Ventures, Harel Insurance & Finance, Pontifax Global Food, and Agriculture Technology Fund (Pontifax AgTech), Canada Pension Plan Investment Board (CPP Investments), KSH Capital, Princeville Capital, Wharton Equity Ventures, and others. This makes the company one of Israel’s newest unicorns, a privately-held startup valued at over $1 billion. “With a valuation of more than $1 billion, Fabric has established itself as a market leader in the on-demand fulfillment space, leveraging its proprietary robotic micro-fulfillment technology stack designed from the ground up to make on-demand fulfillment profitable and scalable for all retailers. It has never been so complex and challenging for retailers to fulfill and deliver online orders, and with these funds, Fabric has emerged as a new kind of unicorn — a ‘robocorn’ uniquely positioned to solve these challenges in the retail space,” the company said in an announcement on their website. Fabric developed micro-fulfillment centers as a logistics solution to combat the challenge of slow and expensive manual fulfillment centers and meet the expectations of e-commerce customers. The New York-based company, which raised  $110 million in a Series B round in late 2019 , provides two kinds of solutions. In the grocery sector, the company offers retailers the opportunity to convert parts of their store into such a micro-fulfillment center where online orders would be packed by robots. The centers, which would be operated by both robots and humans, would also be responsible for scheduling orders and delivering them within minutes. The second aspect is to create multi-tenant locations in urban centers that make on-demand fulfillment profitable for eCommerce sellers locating automation physically close to end customers. The company has raised $336 million to date. Fabric runs micro-fulfillment operations for grocery and general merchandise retailers in New York City, Washington, DC, and Tel Aviv. Just recently, Fabric announced major partnerships with Walmart, Instacart , and FreshDirect. With these funds, Fabric said will expand its on-demand fulfillment platform across the general merchandise market and build a network of micro-fulfillment centers across major metro areas in the United States to make fast delivery scalable and profitable for retailers. Fabric will support this stage of hypergrowth by also heavily recruiting for its world-class technology, commercial, and operations teams in Israel and across the United States. Fabric now has a global team of over 300 team members with offices in New York City, Tel Aviv, and Atlanta. “At the center of this perfect storm of e-commerce is Fabric and our ability to enable on-demand retail at profitable unit economics,” said Elram Goren, Fabric CEO and co-founder. “While we use the term ‘robocorn’ a bit tongue in cheek, we see this milestone as a real turning point in the industry, from what was once trepid exploration of micro-fulfillment to total market validation and now rapid expansion. We’re thankful to our partners for trusting us to serve them and to our incredible team who will continue moving mountains to make our vision a reality. This is still ‘day one’ for us, and we’re extremely excited about the road ahead as we expand our offering into new markets, drive more efficiencies across the supply chain, and focus on scaling.” “We believe the movement to local fulfillment presents an opportunity to make retail and e-commerce more sustainable, and we’re thrilled to partner with the leader in micro-fulfillment to make this vision a reality,” said Eric Kosmowski, managing partner at the Princeville Climate Technology Fund. “By leveraging existing real estate with a small footprint in close proximity to end consumers, utilizing more sustainable packing materials, and minimizing shrink and waste through smart inventory management, Fabric’s micro-fulfillment centers could lower last-mile emissions significantly.”

Union Tech Ventures Investments

14 Investments

Union Tech Ventures has made 14 investments. Their latest investment was in Addionics as part of their Series A on January 1, 2022.

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Union Tech Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/25/2022

Series A

Addionics

$27M

Yes

14

1/10/2022

Series C

MeMed

$93M

Yes

16

12/14/2021

Seed VC

Guardio

$47M

Yes

10

10/26/2021

Series C

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$99M

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10

4/28/2021

Series C

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$99M

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10

Date

1/25/2022

1/10/2022

12/14/2021

10/26/2021

4/28/2021

Round

Series A

Series C

Seed VC

Series C

Series C

Company

Addionics

MeMed

Guardio

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Amount

$27M

$93M

$47M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

14

16

10

10

10

Union Tech Ventures Portfolio Exits

2 Portfolio Exits

Union Tech Ventures has 2 portfolio exits. Their latest portfolio exit was Guardian Optical Technologies on September 07, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/7/2021

Acquired

$99M

2

3/25/2019

Acquired

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$99M

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10

Date

9/7/2021

3/25/2019

Exit

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

10

Union Tech Ventures Team

1 Team Member

Union Tech Ventures has 1 team member, including current Managing Director, Tal Recanati.

Name

Work History

Title

Status

Tal Recanati

Managing Director

Current

Name

Tal Recanati

Work History

Title

Managing Director

Status

Current

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