One of the global warehouse robotic pioneers, Exotec has announced a funding of $335 million in Series D aimed at improving the supply chain resilience for retailers all over the globe. The total valuation of the Series D funding will be $2 billion with the recent investment. The recent funding will enable Exotec to further move forward with its large-scale deployments for global brands in North America, Europe, and Asia.
Recent studies reported that there was about 67% supply chain disruption in the previous year, which was characterized by the negativities of the pandemic. The disruption has been faced in almost all areas, such as inventory delays to port congestion, and the current scenario will only increase its severity.
Roman Moulin, CEO of Exotec, stated that “the entire logistics sector has been under uncertainty and labor shortages were one of the major challenges that the sector has faced. The new investment will enable an elegant collaboration between human workers and robot workers that will enhance the warehouse activity in a more sustainable way.
Richard Tremblay, Logistic Manager at Decathlon Canada, has stated that “warehouse robotics have helped in the transformation of their logistic operations in multiple markets around the world.” The last round of funding, which was initiated in the year 2020 in Series C, had helped in increasing the revenue and customer base. The customer growth in North America, by signing agreements with eight new large enterprises, the introduction of new technology to augment the Skypod System, and the expansion of the global team were some of the major achievements that they have made since the Series C funding.