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Myrmex to foray into Middle East after selling stakes to Ocado

Ocado has acquired intellectual property from the startup

Myrmex, a material handling robotics startup is planning to expand its footprints in the Middle East, media reports said. The move y comes at a time when it sold a stake in the business to Ocado, an online supermarket major.  It is reported that Ocado has acquired intellectual property from the startup and has appointed it to manufacture and develop a customised product. Furthermore, Ocado can take part in future finance offerings.

The portfolio of Myrmex includes intelligent asset handling systems and autonomous mobile robots. The company’s suite of solutions has assisted the industry to fasten click-and-collect deliveries during the Covid-9 pandemic which have witnessed more demand from smart deliveries. The company is targeting the last mile delivery of the sector in the Middle East.

The company’s system has the potential to deliver an order to the customer at the pick-up point within a few seconds. The system also handles operations such as payment methods, temperature control, returns and replenishment.

Alex Harvey, Engineering Director for OSP Handling Robotics at Ocado Technology, told the media, “We’ve been impressed with Myrmex’s capabilities and are excited about the potential synergies with our existing business. As the shift to online grocery accelerates, we are moving even faster in adding automation to our end-to-end offering. Myrmex can play a part in that journey.”

Myrmex has been burgeoning over the past few years and is targeting to become one of the renowned robotics companies. The global robotics sector has been thriving in the past few years.

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