History
AutoStore was founded in 1995. 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. 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. In 2021, SoftBank purchased 40% of the company for NOK 23 billion. AutoStore became listed on the Oslo Stock Exchange in October 2021, marking Norway’s largest IPO in two decades. In 2023, CEO Karl Johan Lier retired and was succeeded by Mats Hovland Vikse.Acquisitions and Innovations
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. In 2022, AutoStore introduced PIO, a robotic solution for small and mid-sized businesses. In 2024, it opened a new U.S. headquarters in Salem, New Hampshire, a development reported by Yahoo Finance. 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.Technology
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.Recognition
In 2024, AutoStore was named one of Fast Company’s Most Innovative Companies, according to the original Fast Company listing.Global Reach
As of March 2025, AutoStore has over 1,600 systems deployed in more than 55 countries. Notable clients include: Norway: XXL, Berggård Amundsen, Komplett USA: PUMA, Best Buy, 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 UK: THG Ingenuity,References
{{Reflist Companies of Norway Norwegian companies established in 1995 Manufacturing companies of Norway