AutoStore
 | |
| Type | Public |
|---|---|
| OSE: AUTO.OL | |
| Industry | Material handling, Logistics automation, Software |
| Founded | June 23, 1995 |
| Founder | Jakob Hatteland |
| Headquarters | Nedre Vats, Norway, |
Area served | EMEA, North America, South America, APAC |
Key people | Mats Hovland Vikse (CEO) |
| Services | Warehouse automation |
| Revenue | US$538.6 million (2025) |
Number of employees | 1,032 (2025) |
| Website | www.autostoresystem.com |
AutoStore AS is a Norwegian manufacturer of automated storage and retrieval systems (AS/RS), that combine automation, software and AI to enable intelligent fulfillment. The company is headquartered in Nedre Vats, Norway, and operates globally with offices in Europe, the United States, Asia, and Australia. As of 2026, it has more than 1,000 employees and a global install base of nearly 1,950 systems in over 60 countries. AutoStore is publicly traded on the Oslo Stock Exchange under the ticker symbol AUTO.OL.
History
[edit]AutoStore was founded in 1995.[1] When IT entrepreneur Jakob Hatteland began selling computer components from a barn in Nedre Vats, his business, Hatteland Group, became Northern Europe’s largest distributor of electronic components. When a newly constructed warehouse reached full capacity within one month, Hatteland's technical director, Ingvar Hognaland, developed a compact robotic storage solution, which became the basis of AutoStore’s technology.[2]
In 2000, Arrow Electronics acquired Hatteland Electronic, allowing Hatteland Group to invest further in AutoStore. The first commercial AutoStore system was installed in 2005 at Elotec, a Norwegian security equipment supplier.
In 2017, EQT acquired AutoStore for NOK 4 billion and later sold it in 2019 for NOK 15 billion to Thomas H. Lee Partners and EQT Private Equity, making AutoStore Norway’s first unicorn.[3] In 2021, SoftBank purchased 40% of the company for NOK 23 billion.[4]
AutoStore became listed on the Oslo Stock Exchange in October 2021, marking Norway’s largest IPO in two decades.[5]
In 2023, CEO Karl Johan Lier retired and was succeeded by Mats Hovland Vikse.[6]
Acquisitions and innovations
[edit]AutoStore acquired the Denver-based software company Locai in 2019, rebranding it in 2022 as the QubIt Fulfillment Platform. In 2021, it launched its Innovation Hub in Karmøy, Norway.[7]
In 2022, AutoStore introduced Pio a robotic solution for small and mid-sized businesses.[8] In 2024, it opened a new U.S. headquarters in Salem, New Hampshire, a development reported by Yahoo Finance.[9]
In 2025, the company launched its Multi-Temperature Solution for cold and frozen storage and CarouselAI, an AI-powered picking solution co-developed with Berkshire Grey.[10]
Services and Technology
[edit]
AutoStore’s cube-based goods-to-person (GTP) system uses robots to retrieve goods from a grid and deliver them to workstations. It eliminates the need for aisles or walkways and increases storage density by up to 400%. The system is modular, scalable, and energy efficient—ten robots use as much energy as a single vacuum cleaner. In a simulation-based academic study, the system’s performance in various warehouse configurations showed significant space and labor savings, confirming its value beyond manufacturer claims.[11] The system is also interoperable with mostly any third-party technologies. CVS, for example, uses AutoStore in combination with the Tompkins Robot tSort to process more than 2 million items per week at its Hainesport, NJ warehouse.[12]
Recognition
[edit]TIME magazine named CarouselAI one of “The Best Inventions of 2025.”[13] In 2024, AutoStore was named one of Fast Company’s Most Innovative Companies, according to the original Fast Company listing.[14]
Intelligent fulfillment
[edit]In 2026, AutoStore publicly described a strategic shift toward intelligent fulfillment, a concept that extends warehouse automation with software, data integration, and artificial intelligence. Rather than focusing solely on executing tasks such as storage and retrieval, intelligent fulfillment systems are designed to monitor live operations, analyze performance data, and adjust system behavior to improve throughput, reliability, and predictability over time.[15]
According to industry coverage, this approach reflects a broader trend in logistics automation away from static, asset-centric systems toward fulfillment environments that continuously adapt to demand patterns, operational constraints, and system health conditions using real-time data.
CubeVerse platform
[edit]At the center of AutoStore’s intelligent fulfillment strategy is CubeVerse, a cloud-based software platform introduced in 2026. CubeVerse is designed to connect data from system design, simulation, deployment, and live operations into a unified environment. The platform provides a foundation for analytics, optimization, and AI-based applications across the AutoStore lifecycle.[16]
CubeVerse is intended to operate alongside existing warehouse management systems (WMS) and warehouse execution systems (WES), rather than replacing them.
AutoStore Intelligence
[edit]AutoStore Intelligence is a suite of AI-driven capabilities embedded within the CubeVerse platform. Introduced alongside CubeVerse, it applies machine learning models trained on operational and simulation data to identify performance constraints, predict potential disruptions, and recommend or execute system optimizations. Reported use cases include routing optimization, system health monitoring, and performance benchmarking across sites.
Industry analysts have described this as a move toward self-optimizing fulfillment systems that can improve performance without requiring additional physical infrastructure.
Global reach
[edit]As of 2026, AutoStore has a global installation base of nearly 1,950 systems in over 60 countries.[17]
- Norway: XXL, Berggård Amundsen, Komplett, Get Inspired, ColliCare, Elektroimportøren
- United States: PUMA, Best Buy, Helly Hansen, GEODIS, Crocs, Chewy, Medline, Lids, HelloFresh, H Mart, H-E-B
- Germany: Lufthansa, Siemens, DHL, flaschenpost SE
- Brazil: Dafiti Group
- Italy: Benetton
- Netherlands: Active Ants
- Sweden: Boozt, Varner, Apotea
- United Kingdom: THG, ASDA
- Japan: FANUC, Pertronic, Toranoana, Hayabusa
- Singapore: GLS, Yusen Logistics
- Czech Republic: Rohlik
References
[edit]- ^ "AutoStore Sets $1.8 Billion IPO, One of Norway's Largest Ever". Bloomberg.
- ^ Haugstad, Tormod (June 13, 2021). "I bygda med 400 mennesker holder selskapet verdt 65 milliarder kroner til. – Bare begynnelsen". Tu.no.
- ^ Harnes, Magnus Peter (September 30, 2020). "I fjor ble det norske selskapet solgt for 16 milliarder kroner og fikk status som Norges første enhjørning. Men dagens lansering er større, ifølge Autostore-sjefen". www.shifter.no.
- ^ "SoftBank to Take 40% Stake in Norway's AutoStore". PE Insights.
- ^ "AutoStore Sets $1.8 Billion IPO, One of Norway's Largest Ever". Bloomberg.
- ^ "AutoStore appoints Mats Hovland Vikse as new CEO". Supply Chain 24/7.
- ^ Rustici, Camille (May 10, 2021). "AutoStore Unveils Simulation Hub to Test Supply Chain Environments". DirectIndustry e-Magazine.
- ^ "AutoStore Launches Pio to Make Cube Storage Available to Small, Midsize Businesses". Robotics 24/7.
- ^ "AutoStore Unveils Latest Technology Innovations". Yahoo Finance.
- ^ "AutoStore launches AI-driven robotic piece picking". Logistics Matters.
- ^ "Simulation Study of AutoStore Systems (not peer-reviewed but academic in nature)". ResearchGate.
- ^ "How CVS Uses Robots to Keep Your Deodorant in Stock". The Wall Street Journal.
- ^ "The Best Inventions of 2025". TIME.
- ^ "Fast Company Most Innovative Companies 2024". Fast Company.
- ^ "AutoStore shifts toward self-optimizing warehouses with CubeVerse and AI-driven analytics". Robotics and Automation News.
- ^ "AutoStore Launches AI-Driven Fulfillment Innovations". Supply & Demand Chain Executive.
- ^ Cite error: The named reference
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