Dexory, a leading robotics and data intelligence company, announced it has closed an $80 million Series B funding round. This funding round was led by DTCP, with participation from Latitude Ventures, Wave-X, and Bootstrap Europe, along with existing investors Atomico, Lakestar, Capnamic, and several angels from the logistics industry. DTCP’s Michael Rager joins Dexory’s board of directors as part of this investment.
This new funding, which is made up of a mix of equity and growth debt, will support an expansion of its artificial intelligence (AI) powered features across the DexoryView platform, grow its global team, and accelerate the deployment of its autonomous robots with customers like GXO, Maersk, DB Schenker and beyond. And a significant focus continues to be on expanding across the US market, where Dexory is already live with customers in seven states. The Series B will also enhance development and production facilities at its UK headquarters.
Including this funding round, Dexory has raised $120 million over the past three years. And the company has demonstrated incredible growth since the first commercial launch of their autonomous warehouse robots and software platform for the logistics space only 18 months ago.
Dexory’s innovation of warehouse optimization technology will ensure that the firm remains a leader in this space. It is setting new standards and unlocking new value for the warehouse of the future, as businesses continue to manage myriad challenges across their supply chains along with cost and service pressures.
Dexory addresses the logistics market’s urgent need to maximize operating efficiencies across national and global networks. And the company’s product, DexoryView, provides comprehensive real-time visibility across warehouses of any size through its autonomous mobile robots and AI. With unique data sets generated from far-reaching sensor and image data, continuous scanning and the latest AI developments, Dexory unlocks new levels of optimization and seamless efficiency.
Dexory’s platform is making a significant impact in leading distribution companies such as GXO, Unipart, and Yusen Logistics and manufacturing players like GE Appliances and Denso. By offering 360-degree visibility into warehouse operations, DexoryView enhances inventory management and operational decision-making.
The platform’s capability to perform rapid warehouse scans and create digital twins of warehouse spaces allows for optimized performance and future scenario simulations. And organizations like DB Schenker have increased their inventory accuracy by 6% and maintain it daily. In contrast, businesses like ID Logistics have reduced manual inventory investigations by 41% in just two months to free up valuable time for other critical tasks.
KEY QUOTES:
“We are incredibly excited about the momentum we’ve built over the past 18 months. DexoryView is proving to be an unrivalled technology for driving real digital transformation and delivering better business outcomes in the warehousing and supply chain industries. AI is clearly at the forefront of business leaders’ minds. With the quality of the data we are extracting and the powerful insights into operations that we generate, DexoryView will deliver commercial success for our customers and investors alike.”
-Andrei Danescu, CEO and co-founder of Dexory
“We are very impressed by the progress Dexory has made in transforming warehouse operations with its cutting-edge technology. The company is perfectly positioned at the intersection of our investment thesis on digitisation and automation. Its ability to capture detailed, actionable data from physical spaces and integrate it seamlessly into the supply chain is impressive. We are confident in its vision and excited to support their product innovation and expansion into global markets.”
-Michael Rager, Partner – Growth Equity at DTCP and board member at Dexory
