Latest news with #VerticalColdStorage
Techday NZ
02-06-2025
- Business
- Techday NZ
LuminX raises USD $5.5 million to advance AI for warehouses
LuminX has secured seed funding of USD $5.5 million to further develop and deploy vision language models for warehouse and supply chain operations. The funding round drew the backing of several investors, including 1Sharpe, GTMFund, 9Yards, Chingona Ventures, and the Bond Fund. Their investment will support LuminX's commitment to improving efficiency and reducing operational errors across the logistics and warehousing sectors. LuminX aims to address longstanding inefficiencies in supply chain and warehouse management that often result in operational errors and increased costs. Its technology focuses on deploying vision language models (VLMs) directly onto mobile hardware in warehouse environments, which the company says can make advanced AI more accessible and practical for diverse operations in the sector. The company's systems use a combination of visual understanding and generative AI capabilities to allow cameras to interpret complex, dynamic warehouse environments in real time. These devices can be installed throughout warehouse settings, including docks, conveyors, forklifts, or used as handheld units. According to LuminX, the system processes visual data to automate operational tasks, reduce the need for manual labour, minimise discrepancies, and optimise workflow. LuminX's leadership team is headed by Founder and Chief Executive Alex Kaveh Senemar, who previously established Voxel, an AI company focusing on warehouse safety and operations, and Sherbit, which was acquired by Huma in 2019. He is joined by Co-founder and Chief Technology Officer Reza (Mamrez) Javanmardi, who holds a PhD in Computer Science and previously served as Head of AI Research at Voxel. The broader LuminX team comprises specialists in AI, specifically in vision language models, computer vision, and robotics, with many staff connected to research institutions such as Carnegie Mellon University. "This pivotal funding allows us to scale our next-generation AI models, transforming how warehouses operate. Our edge based vision language models represent a massive step forward, acting as an intelligent core for warehouse operations. They deliver new levels of automation and insight, helping to turn previously opaque processes into transparent highly efficient systems," said Alex Kaveh Senemar. Early users of LuminX's technology include Vertical Cold Storage. "LuminX's technology is set to revolutionise our warehouse productivity and operations. It's allowing us to automate critical tasks, significantly enhance quality, and reduce claims." He continued, "In my entire career, I have yet to encounter a product that so effectively improves efficiency while simultaneously boosting quality and reliability," Robert Bascom, Chief Operating Officer of Vertical Cold Storage, said, describing the impact on the company's workflow. "Edge-deployed vision-language models are breaking the two toughest bottlenecks in logistics—labour scarcity and data blindness. By turning a low-cost camera into a perceptive co-worker that sees, understands, and acts in real time, LuminX is unlocking a step-change in operational intelligence and efficiency for every pallet, conveyer, and forklift," Kat Collins, a representative of 1Sharpe Capital, commented on the significance of LuminX's approach in the warehouse environment. The company intends to invest the newly secured funds to advance its core research and development in vision language models for logistics. Additional areas for investment include optimising these models for edge deployment, expanding the engineering team, and scaling its go-to-market activities in the logistics AI sector.
Yahoo
22-04-2025
- Business
- Yahoo
Seasoned Industry Executive Jim Henderson Joins Vertical Cold Storage as Chief Commercial Officer
Henderson brings nearly three decades of logistics experience to the company KANSAS CITY, Mo., April 22, 2025--(BUSINESS WIRE)--Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, announces the addition of Jim Henderson to its executive team as Chief Commercial Officer. He reports to West Hutchison, President and CEO of Vertical Cold Storage. "Jim's background of successfully managing integrated commercial teams in the extended logistics industry is exactly what our current and potential customers need to address their biggest opportunities and challenges. His extensive experience in international supply chain management and business development makes him an invaluable addition to the Vertical Cold team," said Hutchison. Henderson has over 15 years of temperature-controlled supply chain experience that began with serving as Vice President of Sales and Marketing at New Orleans Cold Storage. Prior to NOCS, Jim held leadership roles at Consolidated Grain and Barge, International Shipholding Corporation and Tropical Shipping. Throughout his career, Jim has played a key role in expanding global business segments focusing on ports, drayage, ocean freight, and international trade. He holds a master's degree in International Business from the University of South Carolina, as well as a bachelor's degree with a double major in Economics and Spanish from Wofford College. "Vertical Cold has substantial momentum in the temperature-sensitive logistics sector and I'm thrilled to play a role in its continued growth. The company's commitment to solving the most complex issues facing our customers aligns perfectly with my passion for fostering strong customer relationships and creating innovative supply chain solutions. Vertical Cold has built an outstanding team. I'm already in tune with the executive group, so great things are on the horizon," said Henderson. About Vertical Cold Storage Vertical Cold Storage is an industry leader in delivering reliable, flexible, and cost-effective cold storage and logistics solutions for the food and beverage industry. We are committed to giving our customers the competitive edge they need to consistently thrive in the complex and ever-evolving business environment of perishables. We offer temperature-controlled cold storage warehousing and distribution solutions in the cities and surrounding areas of Savannah, Kansas City, Chicago, Dallas, Indianapolis, Charlotte, Miami, and more. Our services are backed by a goal-oriented team of industry veterans and cutting-edge technology with a singular focus on quality results and excellent customer service. Vertical Cold is focused on acquiring and integrating existing and developing greenfield cold storage facilities and providing a consistent customer experience across our entire platform. More information is available at About Platform Ventures Platform Ventures, LLC (or the "Firm") is an independent, entrepreneurial private investment firm that invests through closed and open-end opportunistic real estate funds with scalable investment strategies. The Firm's operator-oriented investment platform is vertically integrated across logistics, housing, and real estate credit through subsidiaries that include Platform Investments, LLC, a wholly owned SEC registered investment advisor. The Firm invests selectively across the capital structure in direct acquisitions, joint ventures, recapitalizations, and reorganizations. Platform Investments, LLC, manages over $3.3 billion of assets1 on behalf of institutional, family office and high net worth investors. Visit for more information. 1) As of December 31, 2024. This includes assets managed by our affiliates who are not registered investment advisers, and this amount does not represent Regulatory Assets Under Management as defined by the SEC. SEC registration does not imply a certain level of skill or training. View source version on Contacts Media Susan HrabikVertical Cold
Yahoo
02-04-2025
- Business
- Yahoo
Vertical Cold Storage acquires Detroit operator Arctic Logistics
Vertical Cold Storage announced the acquisition of Canton, Michigan-based Arctic Logistics on Wednesday, making it the sixth-largest cold storage company in North America. The acquired location adds 140,000 square feet, 19 dock doors and more than 20,000 pallet positions to Vertical Cold's network. The site is U.S. Department of Agriculture inspection-certified and provides storage temperatures ranging from negative 20 degrees to 40 degrees Fahrenheit. The deal marks Vertical Cold's fifth facility acquisition in the past year. Financial terms of the transaction were not disclosed. 'This acquisition strengthens our ability to support customers engaged in cross-border trade and adds a critical location to our growing national footprint,' said Jim Henderson, chief commercial officer of Vertical Cold, in a news release. 'With evolving complexities in U.S.-Canada trade, we're committed to being a reliable cold chain partner for producers and buyers on both sides of the border.' Kansas City, Missouri-based Vertical Cold specializes in the handling and distribution of frozen commodities across a network of 12 locations in major markets like Chicago, Dallas, Indianapolis, Miami and Charlotte, North Carolina. Its services include blast freezing, case picking, import-export and storage, among others. Backed by Platform Ventures, the company focuses on the acquisition and buildout of temperature-controlled facilities. 'In Vertical Cold we have found the perfect partners to bring our business to the next level for the benefit of our customers and our team. All of us are looking forward to a quick and easy transition, and then to sustained growth,' said John Connor, president of Arctic Logistics. More FreightWaves articles by Todd Maiden: Lineage finalizes acquisition of Bellingham Cold Storage March supply chain data craters following inventory pull-forward Yellow's new bankruptcy plan revealed, next steps still uncertain The post Vertical Cold Storage acquires Detroit operator Arctic Logistics appeared first on FreightWaves.
