Fabric Secures $1 Million in Funding for Brands to Deliver Social AR
08/19/20, 1:06 PM
Money raised
$1 million
Round Type
seed
Fabric, a Los Angeles-based startup that helps brands deliver social and immersive augmented reality experiences to customers in real-time, closed a $1 million angel round. The investment helped Fabric and its Israel-based development team reimagine Social AR. Even while social distancing, Fabric's human-centered technology connects people nearby in AR and around the world. The funding round was led by Win Churchill, an early investor in Waze through a prominent Israeli incubator, and included respected investors Ford Seeman, Julie Zwissler, Shai Robkin and others.
Company Info
Additional Info
Today, a startup called Fabric, which is building technology to help those other retailers — big and small — compete more squarely against that muscle specifically in fulfillment with robotics technology, “micro-fulfillment” centers and last-mile operations, is announcing $200 million in funding. It’s a big round at a big valuation — over $1 billion, Fabric says. When Fabric started in 2015, he said a lot of the company’s thinking was focused around groceries, since e-commerce penetration was very low, at about 1%.