MassDevelopment Emerging Technology Fund Enables Quiet Logistics to Expand, Create Jobs in Devens
February 21, 2012
MassDevelopment has provided up to $2.5 million in term financing from the Emerging Technology Fund to Scenic Technology Corporation, which does business as Quiet Logistics, a robotic fulfillment-to-consumer provider in Andover. Quiet Logistics will use loan proceeds for both equipment and working capital to meet the cost of expanding its distribution center in Devens. The company started leasing the 200,000-square-foot distribution center last May and expects the new operation to create up to 300 jobs over the next few years.
“As the agency managing Devens, MassDevelopment proudly welcomed Quiet Logistics last year as a tenant,” said MassDevelopment President and CEO Marty Jones. “We are even more pleased to finance the company’s expansion through the Emerging Technology Fund and add jobs in the Nashoba Valley.”
Quiet Logistics uses warehouse automation technologies and robotics to provide product and brand care services, including order and inventory accuracy at competitive prices. The company focuses on ‘the moment of truth’ in eCommerce, which takes place when a customer receives and opens an order. In that crucial moment, the customer forms or changes an opinion of the product, service, or brand. Precise presentation of the correct product to the right person at the moment of truth increases customer loyalty and profits.
“As a rapidly growing company, Quiet Logistics is thrilled to have the support of MassDevelopment and provide incentive to the Massachusetts economy. We deliver an exceptional, high-volume customer experience for some of the eCommerce industry’s fastest growing fashion and lifestyle e-tailers and brands; the Emerging Technology Fund will allow us to continue to do what we do best,” said Bruce Welty, CEO & Chairman, Quiet Logistics.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2011, MassDevelopment financed or managed more than 300 projects generating investment of $3.8 billion in the Massachusetts economy. These projects are projected to create more than 10,000 jobs (2,547 permanent and 8,129 construction), and build or rehabilitate more than 1,000 residential units.
Quiet Logistics is the first Fulfillment to Consumer (F2C) provider to deliver an elegant mix of technology and branded packaging that completes the eCommerce experience. Our customers include the industry’s leading fashion and lifestyle companies; we maintain the physical completion of their virtual brand experiences – all the way to the consumer's doorstep. www.quietlogistics.com