Sourcery: How Stored Is Rebuilding Delivery to Challenge Amazon Prime

Molly O'Shea (0:01)

Power in ecommerce often comes down to one thing: delivery.

In this episode of Sourcery, we're bringing you a conversation recorded in Monaco, or technically Cap-d'Ail, with Sean Henry, the founder of Stored. And his central thesis is fascinating. You can actually challenge Amazon Prime by rebuilding the logistics stack from the ground up. What's striking is how Henry frames the problem. He says Stored exists to level the playing field for the other two-thirds of commerce on the internet. His view? Amazon's real product isn't just shopping, it's delivery. And Stored is trying to match that experience by combining fulfillment, delivery, commerce software, robotics, and AI into what he calls a physical intelligence layer. And they're backing that ambition with serious scale. Henry says Stored raised a $250 million Series F and is working toward a billion dollars in annual revenue this year.

Over the last four years, the business has grown tenfold in scale, revenue, and volume.

He's adamant that density and economics are what build a lasting moat in delivery.

But here's where it gets really interesting, the data side. Stored Labs is advancing robotics and drone technology while also serving as a data foundry to train systems. They process about 8 billion operational data points a year, along with nearly 100 million packages and roughly 20 billion dollars in gross merchandise value.

Henry has this great observation about robotics. He says it's moving from dumb machines to agentic systems. In the past, robots couldn't adapt well to changes. Now, they can build real-world models, self-heal, and learn from human workers in seconds instead of requiring a shutdown. Still, he's skeptical of hype. Humanoid robots may attract attention, but Henry says they're only in the pilot phase and may not be the best solution for every task. He argues that humans are actually inefficient form factors and that other robotic designs may win in production. What I found compelling is how deeply vertical Stored's strategy is. Henry says the company started by realizing many warehouses were still using paper-based picking systems, so it had to become both the software and the physical infrastructure. That flywheel lowers costs, increases speed, and makes replication difficult. And his sharpest take? The real winners won't simply be AI and robotics companies. As Henry puts it, there's too much obsession with AI and robotics as a standalone value proposition. The durable value will go to the businesses that use those tools to deliver better, faster, and cheaper service. That's what matters in the end.