Logistics startup Stord raises $250 million at $3 billion valuation

May 26 (Reuters) - Logistics startup ‌Stord said ​on ​Tuesday it raised nearly $250 million in a late-stage funding round at a $3 billion valuation, and launched Stord ‌Labs to advance physical intelligence.

The funding highlights investor confidence ⁠in platforms that provide independent brands with the technological infrastructure needed to ‌challenge the dominance of e-commerce ‌giants such as Amazon.

Here are some details:

• Stord Labs will serve as a research base for the company to test ​agentic AI, robotics and automation against live fulfillment data to improve warehouse operations.

• The Series F funding round was ⁠led by existing investors and included Strike Capital, Kleiner Perkins, Founders Fund, Franklin Templeton ​and Baillie Gifford among others.

• The company's valuation has doubled from $1.5 billion a year ago, when ​Stord had raised around $200 million in ‌its Series E funding round.

• The startup said its revenue has grown more than tenfold over ⁠the past four years, with its software business growing faster than overall operations, driven by increasing adoption of its AI and e-commerce fulfillment ⁠platform.

• Atlanta-based Stord provides an AI-powered supply chain platform that combines logistics ​such as warehousing and fulfillment with enterprise software.

• CEO and founder Sean Henry said Stord offers independent brands an integrated commerce platform that combines ‌fulfillment, software and AI to deliver a customer experience that rivals Amazon Prime.

• Stord operates over ‌100 fulfillment locations and brands such as nutrition firm AG1, ⁠travel and lifestyle company Monos ‌and apparel firm True ​Classic use its platform for their direct consumer relationships.

(Reporting by Anhata Rooprai in Bengaluru; Editing by Joyjeet ‌Das)

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