On March 12 local time, French warehouse robot company Exotec announced that it has sold more than $1 billion of its systems worldwide, making it one of the fastest material handling companies in the world to reach this milestone.

Focused on shelf climbing robot systems, cumulative financing of $477 million

CI522AK06 Exotec was founded in 2015, and the acquisition of kiva by Amazon in 2012 drew the attention of Exotec founders Romain Moulin and Renaud Heitz to warehouse automation, and after early market observation, in 2015, the two founded Exotec.

After Exotec launched its first device in 2017, it raised $19 million and began expanding in Western Europe. After receiving $88 million in investment in 2020, Exotec began to expand its reach into the North American market.

In early 2022, Exotec raised $335 million in Series D funding, valuing the company at more than $2 billion.

Exotec’s financing history

CI522AK06 The strong capital support provides the foundation for Exotec to continue its large-scale deployment of global brands in North America, Europe and Asia. According to statistics, since its inception, Exotec has raised funds from Goldman Sachs, Bpifrance, 83North, Dell Technologies Capital, Iris Capital, 360 Capital Partners and Breega And other investors received $477 million in funding.

If the strong capital has provided a strong boost for Exotec to go global, differentiated solutions are the key to Exotec being able to seize the market in a number of warehousing automation companies.

At the heart of Exotec’s warehouse automation solution is the intelligent Skypod robot. The small, flexible robots with a payload of up to 30 kg are characterized by their ability to move in three dimensions in a CI522AK06 warehouse, not only climbing 12-meter-high shelves like Spider-Man, but then moving freely on the ground like an autonomous mobile robot (AMR). With this dual ability to navigate freely on the ground and walk vertically on shelves, the autonomous Skypod shuttle robot can both store and retrieve boxes on shelves and quickly transport those containers to sorting stations, helping employees process orders faster.

With its warehouse robot system, Exotec automates the processing of widget orders based on the cargoes to person principle in e-commerce, food trade, retail and production.

Since the first product was released, Exotec has continued to iterate on its system, improving the accuracy, speed and variety of tasks the robot can perform. At the same time, Skypicker technology was also developed, a robotic arm that further improves sorting to speed up order fulfillment.

Exotec’s solutions have been recognized by customers. With the rise of online shopping in Europe and the United States, many companies have become more and more pressure on warehousing logistics, and Exotec has become the first choice for many companies with outstanding advantages in storage space and turnover efficiency.