Exotec a leading robotics solution for logistics announces approx €77.0 million financing round

Logistic Robots Sep 29, 2020
Exotec a leading robotics solution for logistics announces approx €77.0 million financing round

French-based startup Exotec Solutions the creator of the Skypod 3D warehouse robots today announced a $90 million or approx €77.0 million Series C financing round. The round was led by 83North with participation from Dell Technologies Capital together with existing investors Breega and Iris Capital. The company has been working on semi-automated warehouses for e-commerce clients.

The fresh funds will further fuel Exotec's ambition to become a market leader in robotics solutions for logistics particularly in the US, Europe and Asia. The company forecasts they will produce up to 4,000 robots per year by 2021.

In a booming e commerce market, logistics have become a fiercely competitive market and this is where efficiency and workflow optimisation can often be the differentiator.  

Skypod is a light robot that can replace all traditional logistic materials handling installations such as conveyors, shuttles and mini-loads. Effective to Skypod's success is where most robots move in two directions, the Skypod moves in three dimensions in other words left, right, up and down. The Skypod can ride on the ground and also climb racks up to 10 meters high using iron profiles to which it hooks into to climb the rack.

Skypod does not replace humans altogether as you will still need to pick up the goods from the bin for packing however, human operators are not required in the Exotec area as this is a robot-only zone. Workers can remain at workstations while robots take care of the collection and dropping.

Romain Moulin, co-founder and CEO of Exotec commented: “There is a global need for robotics solutions in warehouses, but logisticians are often concerned to invest in traditional fixed automation in this fast-changing world. This $50 billion market should be supplied with flexible and efficient solutions to fulfil 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,”.

Scott Darling, President of Dell Technologies Capital, added: “Exotec is revolutionizing the adoption of robotics through its innovative and unique technology. Having relied heavily on world-class R&D skills aligned with solid industrial processes, Exotec is at the forefront of this burgeoning market and clearly the leader in the field.”

Glen Smale

Glen Smale is a full stack software engineer, entrepreneur and content editor @bundupress. When not writing about tech startups and software trends he works on software projects

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