What's going on?

AutoStore announced on Tuesday that it�s planning to list on the stock market next month, with the same ruthless efficiency the automation company has brought to the world�s warehouses.

What does this mean?

Companies have been scrambling to meet sky-high ecommerce demand in the last 18 months, all while struggling with a shortage of workers to pick and pack their goods. So in their effort to fine-tune their processes, they�re expected to invest $36 billion in warehouse automation this year � up 20% from 2020. And few companies are better-placed to benefit than Norway�s AutoStore, which specializes in replacing inefficient human meatbags with lean, mean packing machines.

Now the company�s looking to capitalize on that boom: AutoStore�s aiming for an initial public offering that would value the company at almost $12 billion � up from around $8 billion earlier in the year (tweet this). That debut should give the company $315 million more to spend, which it�ll apparently use to pay down some of its debt and lube up any squeaky hinges.

Why should I care?

The bigger picture: Think inside the cube.
AutoStore controls more than 90% of the �cube storage� market across 35 countries, and given that only 15% of the world�s warehouses are automated right now, the market still has plenty of room to grow. Little wonder, then, that the company has such high hopes: it�s expecting revenue to jump from $182 million last year to $300 million this one, and $500 million next.

Zooming out: Rise of the machine.
Automation is big business these days: robotics software company UiPath raised more than $1.5 billion when it listed on the stock market in April, while fellow American Automation Anywhere is hoping for the same kind of success when it goes public in the next few months. The UK wants in too: Blue Prism announced on Tuesday that it was being bought out by private equity firm Vista Equity Partners for $1.5 billion.