Newswire Agents of Tech

Wharton Equity Ventures Invests in Micro-Fulfillment Technology Provider Fabric

Wharton Equity Ventures, a platform of real estate investment firm Wharton Equity Partners, has announced in Fabric, a developer and purveyor of micro-fulfillment solutions, in the latter’s $200 million Series C funding round. The investment will aid the company as it expands its automated, on-demand fulfillment platform servicing the general merchandise market. Fabric is building a network of micro-fulfillment centers across major metropolitan areas in the United States to make fast delivery scalable and profitable for retailers.

“E-commerce activity has exploded in recent years, and consumers are increasingly demanding next-day or even same-day fulfillment of their orders. These trends show no signs of slowing, and as the pandemic has exposed critical weaknesses in the global supply chain, Fabric’s platform has become more vital than ever,” said Peter C. Lewis, Founder & Chairman of Wharton Equity Partners. “With our unique lens as owners of last-mile facilities, we were able to assess Fabric’s solutions and are convinced the company is at the forefront of the inevitable migration to automation of urban warehouses.”

Fabric runs micro-fulfillment operations for grocery and general merchandise retailers in New York City; Washington, DC, and Tel Aviv, Israel. The company recently announced major partnerships with Walmart, Instacart and FreshDirect.

Wharton Equity Ventures’ investment in Fabric marks the latest in a string of commitments to technology companies, including many designed to solve growing pain points in commercial real estate. Previous investments include Latch Inc., a smart locks maker and full-building enterprise software-as-a-service (SaaS) platform that debuted as a publicly traded company earlier this year.