Bloomberg: AutoStore Expected to Raise $315 Million in Oslo IPO
Posted on October 7th 2021, 12:31:13 am
(Image source: Bloomberg)
AutoStore is preparing for its IPO with the support from SoftBank, amid a rush of Nordic listings this autumn. AutoStore expects to raise $315 million and a projected valuation at more than $10 billion.
Founded in 1996, the robotics firm sells robots used in the storing and retrieval of goods in warehouses. It is now owned by Thomas.H Lee Partners, SoftBank Group Corp. and EQT AB.
The company has operations and installations in over 35 countries around the world with an installed or contracted base of 667 systems. In the first half of 2021, the AutoStore reported 88% increase in sales; about $150 million.
The demand for robotics is projected to continue growing in the next decade with only 15% of warehouses automated, a huge opportunity for companies like AutoStore:
“This will increase strongly in the decades to come. Therefore we will be in a strong growth market,” according to CEO Karl Johan Lier.
Other companies going public this autumn include investment company , car-glass repair business and scam-call blocker .