Industrial Automation Magazine India

Exotec raises dollar90M to support the international expansion of its warehouse robotics solutions

Published on : Thursday 15-10-2020

This new funding will further fuel Exotecs international development, especially their recently formed Atlanta and Tokyo teams.

Lille, France, October 2020 – Exotec, a leading robotics solution for logistics and creator of the Skypod 3D warehouse robots, has recently announces a $90 million financing round, led by 83North – with participation from Dell Technologies Capital – and supported by historical investors, Iris Capital and Breega. This new funding will further fuel 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 United States and Asia. Exotec has the ambition 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 revolutionary robots allow retailers and e-merchants to quadruple their warehouse productivity and increase up to five times their storage capacity. 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.

Warehouse robotics have a 45% CAGR while the global automation market's CAGR is also constantly growing by 10 to 15%.

"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," said Romain Moulin, Co-founder and CEO of Exotec.

Exotec revenue doubled in 2020 as several new international clients, including Carrefour and Fast Retailing (Uniqlo group), adopted their technology in key warehouses. This latest funding round will allow the company to further expand and deliver their fully adjustable robotics solution to a wider range of clients in the U.S., Europe and Asia, across numerous B2B and B2C retail sectors such as fashion, grocery, pharmaceutical, hardware, and manufacturing.