Ocado Group acquires minority stake in robotics start-up Myrmex Inc.

Ocado Group acquires minority stake in robotics start-up Myrmex Inc.

October 15^th, 2020, Fremont, California

Myrmex Inc. is delighted to announce that Ocado Group has acquired a minority
stake in the company and will take a seat on the Myrmex Board. Ocado Group has
secured intellectual property that is synergistic with its pioneering suite of solutions
and has appointed Myrmex to design and develop a bespoke product. Ocado Group
also has the option to participate in future finance offerings.
Myrmex Inc. is a materials handling robotics start-up with a unique offering including
autonomous mobile robots and intelligent asset handling systems. Myrmex’s suite of
solutions notably enables click-and-collect deliveries, allowing the industry to
respond to the accelerated demand for smart deliveries created by the Covid-19
pandemic.

George Katiniotis, Chief Executive Officer of Myrmex stated:

“With over 20 years of experience in transforming online grocery through
cutting-edge technology and automation, Ocado Group is widely recognised as the
leader in this space. The company’s investment is testament to Myrmex’s robotics
and automation capabilities and will enable us to accelerate the commercialization of
our product portfolio.”

Alex Harvey, Engineering Director for OSP Handling Robotics at Ocado Technology
said:

“We’ve been impressed with Myrmex’s capabilities and are excited about the
potential synergies with our existing business. As the shift to online grocery
accelerates, we are moving even faster in adding intelligence and automation to our
end-to-end solution offering. Myrmex can play a part in that journey.”
Myrmex targets the European, US and Middle East online markets, mostly focusing
on the last mile delivery part of the sector, offering a system capable of delivering an
online order just a few seconds after the customer arrives at the pick-up point. The
system also takes care of replenishment, returns, temperature controls, and payment
methods.

About Ocado Group
Ocado Group is a UK based technology company admitted to trading on the London
Stock Exchange (Ticker OCDO). It provides end-to-end online grocery fulfilment
solutions to some of the world’s largest grocery retailers and holds a 50% share of
Ocado Retail Ltd in the UK in a Joint Venture with Marks & Spencer. Ocado has
spent two decades innovating for grocery online, investing in a wide technology
estate that includes robotics, AI & machine learning, simulation, forecasting, and
edge intelligence.

About Myrmex Inc.
Myrmex Inc. was established in 2015 in the USA. Its R&D is based in Athens,
Greece. Myrmex firmly believes that the combined use of intelligent robotics coupled
to industry standard assets, such as roll racks, will enable the online retailers and
grocers to offer excellent customer experience at higher margins than traditional
bricks-and-mortar sales channels. Its multi-patented, state-of-the-art hardware and
software come at a perfect time, as social distancing measures drive the need for
online retailers to create new sales channels, darkstores, and click & collect/pick-up
points, and facilitate the last-mile functions. Myrmex was initially funded by
EIF-backed venture capital fund Odyssey, and more recently by a small number of
private investors.

For more Information please contact:
George Katiniotis, Chief Executive Officer
Mobile: +306976993502
George.katiniotis@myrmex-inc.com