Exotec raises $90 million for its warehouse robots – ProWellTech
French startup Exotec raised a $ 90 million Series C round led by 83North, with existing investors Iris Capital and Breega also participating. Other existing investors include 360 Capital. The company has worked on semi-automatic warehouses for e-commerce customers.
The system is based on tiny robots called Skypods. They wander the floor and go up and down shelves to pick up standardized containers of products.
The company also provides logistics software to coordinate all of those robots across the warehouse. As you scale, you can add more robots and more racks without downtime.
It won’t completely replace humans as you still have to collect the goods from the basket and pack things up. But human operators can stay on one workstation while the robots take care of all the roaming.
It is possible to use a work station to pick up goods but also to replenish the bins. The idea is that you must never enter the Exotec area. It is an area reserved for robots.
In addition to increasing productivity, you can also increase storage capacity by switching to Exotec thanks to high racking and narrow aisles.
The company now has teams in Atlanta and Tokyo and expects to produce 4,000 robots per year by 2021. Everything is manufactured in Lille, France, in a 6,000 square meter facility. The company currently has fourteen systems running around the world. Clients include Carrefour, Leclerc, Cdiscount and Fast Retailing (Uniqlo).
Exotec previously raised $ 17.7 million in 2018 and $ 3.8 million (€ 3.3 million) in 2016.