Jungheinrich makes strategic investment in robotic specialist
01 October 2020
Jungheinrich has acquired a stake in the Munich-based robotics start-up Magazino.
At the same time, Jungheinrich and Magazino agreed on a broad strategic collaboration and intend to combine their skill sets in the field of mobile automation.
Automation is one of the biggest growth drivers in the intralogistics sector. Jungheinrich expects double-digit growth rates in this segment in the coming years. This trend is driven above all by the persistently strong growth in online trade and the global shortage in logistics specialists, particularly forklift operators.
Magazino has been on the market since 2014 with a mobile order picker robot that has the ability to intelligently navigate its warehouse and precisely grab the correct boxes. The system is used in the warehouses of a variety of online retailers and logistics service providers.
"By controlling the robots in this complex environment, Magazino has developed globally unique expertise that we want to expand in the future and integrate into the world of Jungheinrich products," says Dr Lars Brzoska, chairman of the Board of Management of Jungheinrich AG.
"Jungheinrich’s investment in Magazino demonstrates the high market demand for our robotics software ACROS.AI and our robots. With it, Magazino will take on a central role in software in the rapidly growing market for mobile robotics," says Frederik Brantner, CEO and co-founder of Magazino.