Startup News: Exotec raises $90 million

Exotec, a robotics solution for logistics headquartered in Lille, France, recently announced 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, including recently-formed teams in Atlanta and Tokyo to meet the growing demand for warehouse automation technology in the United States and Asia. Exotec plans to produce up to 4,000 robots per year by 2021.

Exotec’s 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.

“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. In North America, Exotec is expanding its footprint to meet the increasing demand for automated logistics. The company signed partnerships with highly experienced American integrators such as AHS, S&H Systems and Conveyco to accelerate market penetration.

Exotec is also currently hiring in North America to support its operations and its growth.

Startup News is published on Fridays, along with SCMR.com’s Supply Chain Startup Blog. Send your startup news to Bob Trebilcock, editorial director, Supply Chain Management Review at [email protected].

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