Automated warehouses: Supply chain technology startup Dexory bags $19 million in Series A funding
UK-based AI and robotics company, Dexory, has secured $19 million in Series A funding led by European VC firm Atomico, with participation from existing investors Lakestar, Kindred, Capnamic, and Maersk Growth, the investment arm of the global logistics and container shipping company, Maersk.
As part of this, Atomico Partner Ben Blume will join Dexory’s board of directors.
“For those operating warehouses, ensuring 100% fulfilment ‘in time, all the time’ is crucial to meeting the demands of the modern consumer. A critical component to achieving this is high stock accuracy, but staff shortages, manual processes, and the speed demanded by customers means that critical decisions across the supply chain are currently being taken blindly,” says Dexory CEO and co-founder Andrei Danescu.
“Technology that is autonomous, real-time, intuitive, and integrated can have a transformative effect on the everyday efficiency, productivity, and accuracy of a warehouse - and form an integral part of revamping businesses supply chain strategies.”
Dexory’s technology is integrated in distribution companies such as Maersk and Menzies Aviation.
The company says that its DexoryView autonomous robots platform can perform a full warehouse scan in just a matter of hours, around 100x faster than humans.
Its dashboard tracking provides detailed location of goods, allowing for the quick identification and location of items, accurate information on stock levels and locations, and better decision-making in warehouse operations.
Customers also use DexoryView as a ‘digital twin’ replica of their warehouse to help not only manage, but get the most out of warehouse performance - allowing for the software to optimise, simulate and predict future scenarios. All of which frees up human workers to focus on more complex activities.
“For an operation as complex and sophisticated as running a modern warehouse, the current lack of an automated way to capture data about the physical space is a major pain point,” says Atomico Partner Ben Blume.
“We’re hugely excited by the promise, and market traction, of Dexory’s technology with leading global logistics companies like Maersk and Menzies Aviation.”
‘Through creating a digital replica of the warehouse with their advanced robotic data capture technology, they are able to deploy a platform that is not only seamless and intuitive, but provides powerful and actionable insights too.”
The Series A funding round will support international expansion in key markets such as the US, and Central and Northern Europe, with aims to double Dexory’s workforce by the end of the year to support unit deployment functions and increased production.
The cash will also be used to continue developing Dexory’s forecasting and simulation technology; as well as accelerating the production of its automated robots in its facility in the UK.
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