Warehouse automation tech firm Exotec raises $335m Series D
Warehouse robotics specialist Exotec has secured $335 million in Series D funding at a $2 billion valuation.
Exotec has secured $477 million in funding to date.
The growth equity business within Goldman Sachs Asset Management led the Series D round with follow on investments from 83North and Dell Technologies Capital.
Exotec says it will use the funds to continue to launch large scale deployments in North America, Europe, and Asia for global brands.
It also plans to hire 500 new R&D engineers by 2025 to accelerate the development of its warehouse automation technology.
“Following the most significant supply chain disruptions of the modern era, there’s only room left for innovation,” says Romain Moulin, Co-founder and CEO, Exotec.
“While the entire logistics sector is fraught with uncertainty, one of the most prevalent challenges is ongoing labour shortages. Exotec pioneers a new path: elegant collaboration between human and robot workers that delivers warehouse productivity in a lasting, far more sustainable way.”
“Exotec is well positioned to seize the enormous warehouse automation market opportunity both because of its global presence and strong track record of success with industry leading retailers and brands”, says Christian Resch, Managing Director in the growth equity business within Goldman Sachs Asset Management.
“It builds scalable solutions that are an accelerant for change and supports business growth despite market disruptions.”
"Exotec warehouse robotics have transformed our logistics operations in multiple markets around the world, most recently in our Montreal fulfilment centre,” comments Richard Tremblay, Logistics Manager at Decathlon Canada.
“We value the unique combination of speed, performance, and flexibility that allows us to provide leading service to our customers. We look forward to a long-term partnership.”
