AutoStore Named to Fast Company’s Annual List of the World’s Most Innovative Companies of 2024
As the world’s fastest automated fulfillment system per square foot, AutoStore joins the Fast Company Most Innovative list at no. 4 in the logistics category
NEDRE VATS, NORWAY — (March 19, 2024) — AutoStore, the global warehouse technology company that’s transforming warehouse automation with modular storage, has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2024 for setting the global standard for retail robotics. The full list of companies can be found here.
AutoStore has set itself apart with achievements in efficiency, sustainability, and automation over the last 18 months:
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FusionPort. The company recently introduced the FusionPort workstations specifically crafted to enhance ergonomics for manual order pickers, prioritizing comfort and safety. These workstations feature intuitive screen interfaces that alleviate physical strain, fostering a safer and more productive work environment.
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R5 Robot. AutoStore’s R5 robot boasts an impressive 90% reduction in on-site chargers. This not only streamlines operations but also reduces the need for a sizable charger footprint, lowering the requirement for robots to maintain efficient functionality. This integration of technology boosts productivity and reflects AutoStore’s commitment to sustainability by curbing energy consumption and minimizing physical space demands within warehouses.
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PickUpPort. In late 2022, AutoStore unveiled a groundbreaking endeavor aimed at enriching the customer experience. This public-facing port facilitates fully automated delivery of goods to customers, marking a significant milestone in the logistics and last-mile delivery landscape.
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Financial Growth and Stability. AutoStore’s financial performance mirrors its continued success and upward trajectory. With a total revenue of $645.7 million USD in 2023, AutoStore has consistently demonstrated financial stability. Notably, the fourth quarter of 2023 witnessed an impressive growth rate of 20% compared to 2022.
“At AutoStore, we focus relentlessly on our customer-led product roadmap, pushing the boundaries of automation technology and helping global brands solve increasing demands for efficiency,” said Mats Hovland Vikse, CEO of AutoStore. “This acknowledgment from Fast Company underscores our continuous dedication to revolutionizing warehouse and fulfillment operations across all sectors worldwide.”
This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. Alongside the World’s 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions. Fast Company’s editors and writers identified the companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world.
“Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year,” said Fast Company Editor-in-Chief, Brendan Vaughan. “We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future.”
This achievement with Fast Company comes on the heels of AutoStore deploying over 64,500 robots around the world. In the U.S. alone, AutoStore has deployed 232 systems with over 14 million bins and 17,000 robots which, if lined up, would stretch across the length of Manhattan. Currently, AutoStore is now the most widely adopted automated fulfillment system on the planet, with over 1,400 systems distributed to more than 1,000 unique customers across 54 countries.
To learn more about AutoStore, visit autostoresystem.com.
About AutoStore
AutoStore, founded in 1996, is a technology company that develops order-fulfillment solutions to help businesses achieve efficiency gains within the storage and retrieval of goods. The company offers both hardware and software capabilities and the AutoStore technology is interoperable with other third-party solutions. AutoStore is global, with 1,400 Systems in 54 countries. All sales are distributed, designed, installed, and serviced by a network of qualified system integrators referred to as "partners.” AutoStore was founded in Nedre Vats, on the west coast of Norway. The company has offices in Norway, the U.S., the UK, Germany, France, Spain, Italy, Austria, South Korea, Japan, Australia, and Singapore, as well as assembly facilities in Poland.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
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