Element Logic has invested 15 million NOK (£1.3m) in OmniMod AS, a supplier of modular systems that does parcel sorting automation and processing by utilizing Artificial Intelligence.
OmniMod was founded in 2020 by Tobias Drage Roti and Seva Karpov as a part of their master’s thesis and stemmed from the research environment at NTNU (Norwegian University of Science and Technology). More specifically, the company has roots from Cybernetics and Robotics and has grown to employ over 15 students and graduates from NTNU. Tobias met Sander Engevik at NTNU School of Entrepreneurship in 2021, and the two have worked together in closing the investment round. The investment will enable OmniMod to accelerate its product development even faster, and in cooperation with leading actors in the industry, the start-up has several exciting projects ongoing to successfully bring the new technology to the market.
“Everyone in Element Logic is very impressed with OmniMod and their achievements in such a short time. The team’s competence in innovative parcel sorting and sequencing concepts, by utilizing AI is quite remarkable and constitutes a significant competitive advantage over other automation actors,” stated Dag-Adler Blakseth, CEO of Element Logic.
Element Logic is the leading supplier of warehouse automation solutions and the world’s first and largest integrator of AutoStore. One of Element Logic’s main priorities is to increase and optimize the product portfolio and to automate even more of the value chain. OmniMod’s technology has been verified and offers a unique and broad range of automation within logistics.
“Element Logic is an incredible company and has really achieved success because of their employees and culture. The people behind it are capable, trustworthy, and innovative, and therefore suitable investors to take the start-up to new heights. We look forward to continuing our cooperation and showing the rest of the world what we can achieve together.”, Tobias Drage Roti says, CEO of OmniMod.
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