Robotics pioneer Exotec raises $335 million funding
17 January 2022
WAREHOUSE ROBOTICS start-up Exotec raised the $335m in Series D funding at a $2B valuation.
The Growth Equity business within Goldman Sachs Asset Management led the round. Exotec will leverage the funds to continue to launch large-scale deployments in North America, Europe, and Asia for global brands.
The company also plans to hire 500 new R&D engineers by 2025 to accelerate its development.
Exotec co-founder and CEO says: “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 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.”
“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,” adds Christian Resch, managing director in 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.”
“Exotec warehouse robotics have transformed our logistics operations in multiple markets around the world, most recently in our Montreal fulfillment center," said Richard Tremblay, logistics manager at Decathlon Canada. "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."
Exotec doubled its revenue and tripled its customer base since closing its $90m Series C funding round in the autumn of 2020.
Exotec signed 8 new, large enterprise customers including Gap and Geodis and expanded its work with existing clients in new markets.
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.
To access Exotec solutions in the UK, visit www.lacconveyors.co.uk
For more information, visit www.exotec.com