- Exotec — a leading robotics solution for logistics and the creator of the Skypod 3D warehouse robots — announced that it has raised $90 million in funding
Exotec — a leading robotics solution for logistics and the creator of the Skypod 3D warehouse robots founded in 2015 by Romain Moulin and Renaud Heitz — announced that it has raised $90 million in funding led by 83North with participation from Dell Technologies Capital and supported by historical investors Iris Capital and Breega.
This round of funding will further power Exotec’s international development, especially their recently formed Atlanta and Tokyo teams and help them meet the growing demand for warehouse automation technology in the US and Asia. Exotec has a goal to become the leader in robotics solutions for logistics and forecasts they will produce up to 4,000 robots per year by 2021.
Exotec’s robotics technology allow retailers and e-merchants to quadruple their warehouse productivity and increase up to five times their storage capacity. And their autonomous robots can move in a unique three-dimensional pattern at a speed of 13 feet per second, creating a faster and more efficient picking and preparation process.
Exotec’s revenue doubled in 2020 as several new international clients, including Carrefour and Fast Retailing (Uniqlo group), adopted their technology in key warehouses. And this latest funding round will enable the company to further expand and deliver its fully adjustable robotics solution to a wider range of clients in the U.S., Europe, and Asia across numerous B2B and B2C retail sectors like fashion, grocery, pharmaceutical, hardware, and manufacturing.
In North America, Exotec had expanded its footprint to meet the increasing demand for automated logistics. And the company signed partnerships with highly experienced American integrators like AHS, S&H Systems, and Conveyco to accelerate market penetration. Currently, Exotec is also hiring in North America to support its operations and its growth.
The partnership announced at the end of 2019 between Exotec and international retail company Fast Retailing has also delivered benefits to the group. The technology is under deployment in two warehouses in Japan with 1,000 Skypods improving logistics efficiency for Uniqlo stores. And Exotec Nihon has been created to support the operations in Japan and more than 30 employees will be hired in the coming months.
KEY QUOTES:
“There is a global need for robotics solutions in warehouses, but logisticians are often concerned about investing in traditional fixed automation in this fast-changing world. This $50 billion market should be supplied with flexible and efficient solutions to fulfill customers’ needs and new shopping timelines. We offer a new generation of warehouse robotics and have the largest deployed and operational systems across three continents.”
— Romain Moulin, Co-founder and CEO of Exotec
“Brands and retailers are seeing tremendous surge in e-commerce, accelerated by the current pandemic. They must now transform their supply chain to gain competitive advantage. Exotec is addressing this challenge and is the leading player in scalable robotics systems.”
— Rudi Lueg, Managing Director of North America at Exotec
“83North has invested in many teams and companies enabling the future of e-commerce. In our opinion, Exotec is one of those special companies, where the founders’ backgrounds, company culture, outstanding technology, delighted customers and a rapidly changing market make it a very unique investment.”
— Laurel Bowden, Partner at 83North
“Exotec is revolutionizing the adoption of robotics through its innovative and unique technology. Having relied heavily on world-class R&D skills aligned with solid industrial processes, Exotec is at the forefront of this burgeoning market and clearly the leader in the field.”
— Scott Darling, President of Dell Technologies Capital
“Exotec has proven they can address their market needs in many new ways in the past year, scaling in very selective markets such as Japan or food distribution. We are confident that this new round will fuel yet another record growth phase across three continents.”
— Julien-David Nitlech, Managing Partner at Iris Capital
“As Exotec’s earliest investors, we are both delighted and proud to witness first-hand Exotec’s trailblazing growth and expansion into international markets. Founders Romain and Renaud have been able to meet growing demands while building and scaling a great team in record time. We’re looking forward to seeing what progress this latest fundraise brings.”
— François Paulus, Founding-Partner at Breega
