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Friday | October 23 | 2020

Exotec raises $90M to support the international expansion

Exotec, a robotics solution for logistics and creator of the Skypod 3D warehouse robots, announces today a $90 million financing round.

It was led by 83North – with participation from Dell Technologies Capital – and supported by historical investors, Iris Capital and Breega.

This new funding will fuel Exotec’s international development, especially their recently formed Atlanta and Tokyo teams and help them meet the growing demand for warehouse automation technology in the United States and Asia.

Exotec has the ambition to become the leader in robotics solutions for logistics and forecasts they will produce up to 4.000 robots per year by 2021.

Exotec’s robots allow retailers and e-merchants to quadruple 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 a faster and more 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.

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