Exotec Solutions, a French AI robotics startup, secured €15m in Series B funding.
The round was led by Iris Capital with participation from 360 Capital Partners and Breega.
The company intends to use the funds to grow the team and deliver 1000 new robots by 2019.
Founded in 2015 by Romain Moulin, CEO, and Renaud Heitz, CTO, Exotec Solutions is a robotics startup focused on logistics for traditional and grocery ecommerce companies. The company’s system is an order preparation system that uses 3D mobile robots. Moving in 3 dimensions, the robots transfer goods in the warehouse to team members who can focus on packing and shipping the products to customers rather than walk long distance to sky ceiling racks.
Laser scanner navigation and AI allow the robots to navigate in the warehouse carrying 30+ kg bins.