France-based Exotec, a warehouse automation startup that builds robots to improve inventory management and enhance operations, raised USD 335 million on 17th January 2022.
Investors: The investment round was led by the Growth Equity business within Goldman Sachs Asset Management and was backed by 83North and Dell Technologies Capital. This investment round brings the total funding raised from global institutions to USD 477 million.
Purpose of funding: Using the funding, the startup is planning large-scale deployments for global brands in North America, Europe, and Asia. Furthermore, the company plans to hire 500 R&D engineers over the next five years. This effort aims to accelerate the development of high-performance warehouse automation systems.
About Exotec
Founded in 2015 by Renaud Heitz and Romain Moulin, Exotec is located in Lille, France. Exotec is a warehouse automation startup that builds robots to improve inventory management and enhance operations. The startup’s Skypod system allows high-density inventory storage and retrieval through the use of robots that can reach a height of 36 feet. In addition, the Skypod solution can also be installed in ambient environments. Depending on the automation level desired, the startup’s system can also be installed or customized.
Consequently, different customers can take advantage of the startups’ flexibility and performance. The startup is aimed at revolutionizing supply chain robotics. Currently, the startup supports over 30 leading brands in the e-commerce, grocery, retail, manufacturing, and 3PL sectors. With over ten countries covering the Skypod system, the startup is present in major markets worldwide. Goldman Sachs, Bpifrance, 83North, Dell Technologies Capital, Iris Capital, 360 Capital Partners, and Breega are among the startup’s existing investors.
What the founder has to say
“Following the most significant supply chain disruptions of the modern era, there’s only room left for innovation,” said Romain Moulin, Co-founder and CEO at Exotec.
“While the entire logistics sector is fraught with uncertainty, one of the most prevalent challenges is ongoing labour shortages. Exotec pioneers a new path: elegant collaboration between human and robot workers that delivers warehouse productivity in a lasting, far more sustainable way.”
What the investor has to say
“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”, said Christian Resch, Managing Director at the Growth Equity business within Goldman Sachs Asset Management.
“Exotec builds scalable solutions that are an accelerant for change and supports business growth despite market disruptions.”
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