TechCrunch: Logistics Startup Exotec Raised $335M at a $2B Valuation

Jan 20, 2022

(Image Source: TechCrunch)

Logistics startup Exotec completed a $335 million Series D led by Goldman Sachs’ Growth Equity business, making it the fourth French unicorn in 2022. Joining the round are 83 North and Dell Technologies Capital, along with some previous investors including Iris Capital and Bpifrance. The funding will go towards recruiting more engineers and supporting the company’s expansion into North America.

Founded in 2015, Exotec is best known for its Skypods, a signature offering that utilises robots to perform basic tasks. Through this solution, regular warehouses can be converted into partially-automated logistics platforms. Rather than constantly moving around, workers can now focus on tasks that require more cognitive work and complex reasoning.

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As we speak, Exotec is working on the development of Skypickers, a more advanced version of Skypods. Instead of taking inventory bins with a mixture of items in them, Skypickers are able to pick the exact item that customers want and put them in a ready-to-ship container. 

“While the entire logistics sector is fraught with uncertainty, one of the most prevalent challenges is ongoing labor shortages. Exotec pioneers a new path: elegant collaboration between human and robot workers that delivers warehouse productivity in a lasting, far more sustainable way,” said Romain Moulin, CEO and Co-Founder of the company.

Source: Warehouse robotics system Exotec raises $335 million

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