Exotec, a global robotics warehouse leader, recently announced raising $335Mn Series D Funding Round at $2Bn valuation, with ample aid from Goldman Sachs Asset Management leading the round with follow-on investments from 83North and Dell Technologies Capital in the Growth-Equity Business.
Exotec will also leverage funds to endure launching larger-scale developments in North America, Europe, and Asia for global brands. According to the firm, planning is underway for hiring 500 latest R&D engineers by 2025 to accelerate the development of its high-performance warehouse automation technology.
Romain Moulin, Co-founder, and CEO of Exotec stated: “Following the most significant supply chain disruptions of the modern era, there\’s only room left for innovation. While the entire logistics sector is fraught with uncertainty, one of the most prevalent challenges is ongoing labor shortages.
Romain also added: “Exotec pioneers a new path: elegant collaboration between human and robot workers that delivers warehouse productivity in a lasting, far more sustainable way.”
Christian Resch, Managing Director in the Growth Equity business within Goldman Sachs Asset Management stated: “Exotec is well-positioned to seize the enormous warehouse automation market opportunity both because of its global presence and strong track record of success with industry-leading retailers and brands.”
Christian adds on: “Exotec builds scalable solutions that are an accelerant for change and supports business growth despite market disruptions.”
Richard Tremblay, Logistics Manager at Decathlon Canada stated: “Exotec warehouse robotics have transformed our logistics operations in multiple markets around the world, most recently in our Montreal fulfillment center. We value the unique combination of speed, performance, and flexibility that allows us to provide leading service to our customers. We look forward to a long-term partnership with Exotec.”
According to Exotec, the pandemic had illustrated how the supply chain operations are critical to daily, modern life as communities remain to feel the negative impacts of ongoing disruptions and breakdowns.
From inventory delays to port congestion, these compounding challenges are only anticipated to increase in frequency and severity. A recent report from Resilinc revealed that supply chain disruptions were up 67% year-over-year.
According to Exotec, the firm has doubled its revenue and tripled its customer base since the closure of its $90M Series C funding round in the fall of 2020.
Customer expansion in North America: Exotec signed 8 new, large enterprise customers including Gap and Geodis, and expanded its work with existing clients in new markets. Most recently the largest sporting retailer in the world, Decathlon, deployed the Skypod System in its Montreal fulfillment center following successful deployments in Europe.
New technology to augment the flagship Skypod System: The company debuted its Skypicker technology, an articulated arm able to move 600 items per hour to support high-volume fulfillment and returns.
Intensifying the global team: To date, Exotec employs more than 300 professionals around the world and aims to double its global headcount by 2023.
