THANK YOU FOR SUBSCRIBING
Fremont, CA: Exotec, a leader in global warehouse robotics, has secured $335M in Series D funding at a $2B valuation. The round was led by Goldman Sachs Asset Management's Growth Equity business, with follow-on investments from 83North and Dell Technologies Capital. Exotec will use the funds to continue launching large-scale deployments for global brands in Europe, North America, and Asia. In addition, by 2025, the company intends to hire 500 new R&D engineers to boost the development of its high-performance warehouse automation technology.
As communities continue to feel the negative effects of ongoing disruptions and breakdowns, the pandemic demonstrated how critical supply chain operations are to everyday, modern life. These compounding challenges, ranging from inventory delays to port congestion, are only expected to grow in frequency and severity. According to a recent Resilinc report, supply chain disruptions increased 67 percent year over year.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
"Following the most significant supply chain disruptions of the modern era, there's only room left for innovation," stated Romain Moulin, Co-founder and CEO of Exotec. "While the entire logistics sector is fraught with uncertainty, one of the most prevalent challenges is ongoing labor 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," remarked 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."
More in News