Waltham-based Takeoff Technologies, which wants to automate grocery shopping, has sold $12.4 million of its $25 million equity offering, according to a regulatory filing.
Takeoff's technology is meant to reduce the number and size of grocery stores with the help of grocery-sorting robots. The company's model aims to replace big supermarkets with mini-warehouses where customers can pick up their orders, after placing orders online. The startup raised $12.5 million in January this year.
Takeoff Technologies is founded by three HBS alumni: José Vicente Aguerrevere, who has founded a Venezuelan grocery store chain and previously worked as a management consultant for Booz Allen & Hamilton; Max Pedró, a former vice president of international financial services at Walmart; and Rafael Pieretti, a former surgery fellow at Massachusetts General Hospital who has previously co-invested in Venezuelan health initiatives with Aguerrevere after the two first met in kindergarten.
More on the company here.
