Exotec develops warehouse robotics and automation solutions that combine hardware (robots) and software to optimize storage, retrieval, and order fulfillment operations. Pulse 2.0 interviewed Exotec co-founder and CEO Romain Moulin to gain a deeper understanding of the company.
Romain Moulin’s Background
Could you tell me more about your background? Moulin said:
“I’ve spent the majority of my career in robotics, first at a small, French company specializing in automated forklifts. I started as a sales engineer and eventually moved into a technical manager role.”
“From there, I joined GE Healthcare to work on advanced robotics imagers. My role there was very product focused. The machines needed to be reliable and high-performing as they were being shipped across the globe. Here, I really learned what it takes to build a hardware product.”
Formation Of The Company
How did the idea for the company come together? Moulin shared:
“The idea for Exotec stems from my ongoing work alongside my eventual co-founder, Renaud Heitz. We’ve known each other for over 20 years and worked together at GE.”
“In our professional career, one thing became clear to us in the market: the traditional automation used in warehouses was too rigid and slow to keep up with the evolving modern demands. We saw an opportunity to rethink order fulfillment using agile, scalable robotics solutions.”
“We decided to build our own company to get back to our first love: logistics. We have complementary specialties, he is excellent with software and I have a strong passion for hardware. Exotec launched officially in 2015.”
Favorite Memory
What has been your favorite memory working for the company so far? Moulin reflected:
“One recent favorite memory is from February of this year. We commercially launched our Next Generation of Skypod, a new Automated Storage and Retrieval System (AS/RS)!”
“The Next-Gen Skypod is the culmination of our team’s efforts to set a new standard of warehouse automation. Our team centered customer feedback and identified the clear need for a new solution that simplifies operations while addressing persistent warehouse difficulties.”
“Our team tackled this challenge like solving a complex mathematical problem. We believed it was possible to arrive at a simple, elegant solution with far-reaching impact. The journey was not without challenges. At times, we considered starting over entirely. However, by staying closely aligned with our customers’ needs, we developed an AS/RS solution that empowers the modern warehouse.”
“Throughout the last 10 years of growth, and especially with our recent launch, I’m most impressed with how nimble our team remains. We keep the startup spirit despite being a large global business, constantly challenging the status quo to ensure we deliver what our customers need most!”
Core Products
What are the company’s core products and features? Moulin explained:
“At the core of our company is the Skypod system, the only ‘all-in-one’ AS/RS currently on the market.”
“Through our system, our customers can drastically reduce the time needed to prepare and ship orders. Our compact Skypod robots are able to navigate high-density racks, retrieving items in under two minutes. The robots then bring goods to the workstation, where an operator prepares the shipment to leave the warehouse.”
“It’s a streamlined, goods-to-person approach that cuts complexity and boosts throughput (the rate in which inventory is moved through a warehouse). It’s used at over 200+ client sites worldwide, including by Carrefour, GAP, Uniqlo and others. We’re proud to call a number of Fortune 500 companies our customers.”
“Exotec also offers advanced warehouse execution system (WES) software called Deepsky. This serves as the intelligence that powers a warehouse with real-time insights and management. Designed to natively create a perfect bridge between Warehouse Management Systems and the complete Exotec Warehouse Solution, it acts as the overseer of a warehouse’s operational data, ensuring continuous improvement and optimal performance throughout a logistics process.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Moulin noted:
“When we started in 2015, we began with a small fleet of robot prototypes designed to the specifications of the industry. Since then, our technology has evolved significantly.”
“Building on our Next Generation of Skypod, the next iteration comes with a number of design improvements including a more compact robot, an ergonomic workstation for operators to pick comfortably and denser storage. These redesigns combined with new software features improve the throughput by 50%, in comparison to our previous generation. That means our clients are able to get orders out the door fast, better meeting their own customer’s demands.”
Significant Milestones
What have been some of the company’s most significant milestones? Moulin cited:
“We’ve hit several key fundraising milestones including raising $90 million in 2020 from 83North to fuel our growth, and then in 2022, hitting unicorn status with a $335 million Series D round led by Goldman Sachs. We’re the first ever industrial unicorn in France, something our team is very proud of.”
“In 2024, we reached $1 billion in sales worldwide as customers swap out legacy systems to automate their warehouses. This serves as a great validator of our technology and the benefits that we are offering customers worldwide.”
“Most recently, we celebrated our 10-year anniversary and with it a range of impressive milestones achieved over the past decade, including:
- 10,000 robots manufactured and deployed worldwide.
- Over 938 million cycles completed, each in under two minutes and powering up to four customer orders.
- 90 million kilometers of walking eliminated for warehouse operators — the equivalent of 119 trips to the moon and back.”
Customer Success Stories
When asking Moulin about customer success stories, he highlighted:
“One that comes to mind is our customer, E Leclerc Seclin, who challenged us to support them in addressing newfound difficulties from the grocery e-commerce boom in 2020. Shoppers now require fast, flexible, and convenient options like grocery drive through or curbside pick up, prompting many grocers, Seclin included, to reimagine their whole supply chain.”
“Seclin is known for their grocery drive through services, a convenient offering for busy individuals who want to shop online and then pick up their goods. As more and more consumers took advantage of this service, they faced growing customer dissatisfaction due to excess curbside wait times– averaging 15 minutes per order. Further, they were capped at only 800 orders a day, limiting their business.”
“The idea for the Next Generation of Skypod actually stemmed from these challenges. We developed a new solution for their warehouse and quickly realized the new benefits are applicable to many styles of warehouses across the world.”
“And the initial results from the project are incredible; they’ve seen a 73% reduction in customer wait time and now have a 50% increase in daily orders. With the shorter wait times and increased reliability, Seclin has increased business and greater customer loyalty.”
Funding
When asking Moulin about the company’s funding details, he revealed:
“We’ve secured significant backing, including a $335 million Series D round in 2022 led by Goldman Sachs which valued us at $2 billion. We continue to put that investment to work to boost innovation and scale with our customers”
Future Goals
What are some of the company’s future company goals? Moulin emphasized:
“We want to ensure we grow with our customer and help them see around corners to stay ahead of a fiercely competitive market. That means being there to deploy more, always-improving robotics solutions to scale with customers as we grow. Increasingly, that means moving beyond selling individual products to partner deploying integrated solutions that optimize the business across operations. Our future focus is to continue moving beyond being solely a warehouse automation provider to being a trusted partner that supports full end-to-end integration and delivers complete solutions that drive efficiencies, improve human productivity and help our customers compete while staying ahead of the persistent warehouse labor shortage..”
“We’re already making real progress with technology partners such as E80 Group, enabling us to deeply understand a customer’s individual needs and tailor systems accordingly. This approach ensures that Exotec’s systems not only deliver efficiency on the warehouse floor, but also connect into broader supply chain strategies.”
“Sustainability is one of our top priorities, embedded into our ongoing business plan. As a material handling vendor, we witness both the advantages and the extremes of the modern economy. Our aim is to develop sustainable products that can enable a more sustainable economy. That takes shape in many forms, but we are initially looking into minimizing our own carbon footprint, better designing our own product to minimize impact on the environment.”
Additional Thoughts
Any other topics you would like to discuss? Moulin concluded:
“It may not be as popular to say this as it was a few years ago, but I’m proud of people-first culture. With over 1,300 employees worldwide, we’re focused on their well-being with initiatives designed to improve quality of life and career growth. It’s a reminder that behind the robots, it’s the human drive at Exotec that’s pushing warehouse automation into the future.”
