Business & Investment

Warehouse robot company Exotec raises $ 335 million and has a valuation of $ 2 billion

Business in markets where growth is expected 2-digit rate There is plenty of room for investment to reach $ 9.1 billion by 2026 over the next five years.

Exotec Is the latest benefit, ending the $ 335 million Series D funding round led by Growth Equity Business within Goldman Sachs Asset Management with additional investments from 83 North and Dell Technologies Capital.

Financing estimates Exotec at $ 2 billion. The company’s final funding round was the $ 90 million round in September 2020. 83North led its funding with the involvement of Dell Technologies Capital, Iris Capital and Breega. Since then, Exotec has doubled its revenue and tripled its customer base.

“There is room for innovation following the most serious supply chain turmoil of our time,” said Romain Moulin, co-founder and CEO of Exotec. “The entire logistics sector is full of uncertainty, but one of the most common challenges is the ongoing labor shortage. Exotec paves the way for new ways. It makes warehouse productivity lasting. An elegant collaboration between human and robotic workers that is achieved in a much more sustainable way. “

Exotec creates warehouse robotics to assist operators in fulfillment operations. It employs more than 300 people worldwide. With new funding, Exotec expects to double its global workforce by 2023 and hire 500 R & D engineers by 2025.

Christian Resch, Managing Director of Goldman Sachs Asset’s Growth Equity Business, said: management. “Exotec builds scalable solutions that drive change and support business growth despite market turmoil.”

read: Gap tests Exotec’s robotics system with return management

read: Decathlon, the latest retailer with Exotec robotics

Last year was a big year for Exotec, with several top brands in the retail and supply chain companies, including Geodis, and contracts to roll out their technology. In April, the company announced a contract to deploy Gap and Skypod robots.

Rudi Lueg, managing director of North America at Exotec, told Modern Shipper at the time that Gap would test Skypod robotics solutions during the return replenishment process.

Skypod is a “goods-to-people” 3D robot that can move up and down horizontally on shelf racks stacked up to 36 feet, allowing retailers and e-merchant to increase storage capacity by up to five. I can do it. Sometimes the company says.

According to Rogue, robots can speed up the picking process by about 5 times, but when it comes to returns, it’s 10 times faster. Exotec’s solution also tracks the item through the process, so if an online order for the item arrives and hasn’t been returned to inventory yet, the picker will be notified that the item is waiting to be returned to inventory for sale. Will not be lost.

In May, shoe retailer Ariat and sporting goods retailer Decathlon Announcement of development Of Skypod. Ariat has added an unspecified number of robots to its omni-channel fulfillment center in Erlanger, Kentucky, but Decathlon plans to install 55 Skypods in 30 locations, including major fulfillment centers in Montreal. did. The installation was expected to be completed by December. Robots are expected to process 8 million items annually.

Watch: Are you ready for your warehouse strategy?

“Exotic Warehouse Robotics has transformed our logistics operations in multiple markets around the world, and more recently in our distribution centers in Montreal,” said Richard Trenbray, Logistics Manager, Dekaslon, Canada. “We value a unique combination of speed, performance and flexibility to deliver first-class service to our customers. We look forward to our long-term partnership with Exotec.”

In total, Exotec signed eight large corporate customers in 2021.

Exotec too Skypicker technology The Sky Picker is an articulated arm that can move 600 items per hour to support high volume fulfillment and returns.

Click to see more Brian Straight articles.

You may like it too:

The drone is flying into the desert of meteorological data. Can you stop them?

Navigating COVID-19 shipping disruptions: Find capacity and serve customers

Do you need a warehouse?You may have to wait 9 months

Warehouse robot company Exotec raises $ 335 million and has a valuation of $ 2 billion Warehouse robot company Exotec raises $ 335 million and has a valuation of $ 2 billion

Back to top button