Exotec, a Lille, France-based robotics solution for logistics and creator of the Skypod 3D warehouse robots, raised $90m in financing.
The round was led by 83North with participation from Dell Technologies Capital – and supported by historical investors, Iris Capital and Breega.
This funding round will allow the company to further expand and deliver their fully adjustable robotics solution to a wider range of clients in the U.S., Europe and Asia, across numerous B2B and B2C retail sectors such as fashion, grocery, pharmaceutical, hardware, and manufacturing.
Founded in 2015 by Romain Moulin and Renaud Heitz, Exotec provides robots that allow retailers and e-merchants to augment their warehouse productivity and increase up to five times their storage capacity. Their autonomous robots can move in a unique three-dimensional pattern at a speed of 13 feet per second, creating an efficient picking and preparation process.
Exotec revenue doubled in 2020 as several new international clients, including Carrefour and Fast Retailing (Uniqlo group), adopted their technology in key warehouses.
In North America, the company is expanding its footprint to meet the increasing demand for automated logistics. The company signed partnerships with highly experienced American integrators such as AHS, S&H Systems and Conveyco to accelerate market penetration.
Exotec is also currently hiring in North America to support its operations and its growth.