How Will Businesses Benefit From GreenBox’s Warehouse-as-a-Service Solutions?

What’s the first thing that comes to your mind when you hear online shopping?

Probably a pending parcel that’s on the way or the next big fun purchase? Maybe a simple trinket that has not much utility except that of bringing you happiness (the most important thing in the world)! #ShoppingIsFun

Thanks to industry leaders like Amazon, Walmart, Alibaba and others, you don’t have to wait too long to get your parcels, as these e-commerce giants have made the entire process a lot easier and faster.

A lot of this is down to the numerous warehouses they’ve set up across in various locations around the world. Of course, this advantage extends past just the ecommerce industry. The problem, though, comes up for smaller companies who can’t afford to build, maintain and operate their own warehouses but want to venture into them.

Enter GreenBox Systems LLC! #DrumRollPlease

Read on!
 

What Is Greenbox Systems?
 

• GreenBox Systems LLC is a joint venture between SoftBank Group Corp. and Symbotic Inc.

• The new venture will offer WaaS or Warehouse-as-a-Service solutions to companies that lack the capital to purchase, set up or branch out into warehouses on their own.

• Symbotic Group Corp. is a Japanese multinational investment holding company which primarily invests in technology companies and indulges in investment management.

• Symbotic Inc. is an American robotics warehouse automation company that builds and operates automated warehouse systems infused with AI (Artificial Intelligence) in its software, with the aim to enhance supply chain management.

 

What Will Greenbox Do?
 

• It’s not just about providing WaaS solutions, GreenBox will automate supply chain networks globally by providing them with Symbotic’s automation technology, effective robotics and AI-infused software to run single and multi-tenant warehouses.

• Essentially, the AI-powered robotics and software technology that Symbotic offers will be the driving force of GreenBox.

 

What Does The Partnership Entail?
 

• Reportedly, Around 65% of GreenBox will be owned by SoftBank and the rest by Symbotic.

• SoftBank, who already previously owned about 5% of Symbotic, will further purchase 17.8 million shares of Symbotic.

• SoftBank and Symbotic will have a combined investment of $100 million in GreenBox. This will include purchases of $7.5 billion over 6 years of Symbotic’s AI-powered systems for warehouses.

 

What’s The Aim For Both Companies?

 

• Regarding the joint venture, Vikas Parekh, Managing Partner of SoftBank Investment Advisers, said, “GreenBox taps into the powerful potential of AI and other enabling technologies in supply chains, while also making the benefits of automation accessible to more businesses through an ‘as-a-service’ offering” and added, “In partnership with Symbotic, GreenBox will equip customers with more intelligent, streamlined, and scalable warehousing solutions while eliminating the burden of major capital expenditures.”

• Speaking on the partnership, Rick Cohen, Symbotic’s CEO, said, “We are pleased to partner with SoftBank in this venture that accelerates our shared vision to transform the supply chain”, and added, “GreenBox enables Symbotic to bring the benefits of our technology to a broader customer universe, expanding our market opportunity.”

 
Undoubtedly, this is huge news for businesses that are on the lookout for modern and Warehouse-as-a-Service (WaaS) solutions with automation, robotics and AI-infused software for their warehouses.

What do you think of this joint venture? Are AI-automated warehouses the future of supply chain and logistics? Let us know in the comments below!