Exotec, a robotics company based in France with its North American headquarters in Atlanta, raised $335M in Series D funding at a $2B valuation. The round was led by the Growth Equity business within Goldman Sachs Asset Management with follow-on investments from 83North and Dell Technologies Capital.
The robotics company will use the funds to launch large-scale deployments in North America, Europe, and Asia for global brands. Exotec currently has 30 employees in Atlanta and plans to hire 30 more in the city by 2023. The company plans to hire 500 more engineers globally by 2025 to accelerate development of its warehouse automation technology.
“Our ambition is to build Exotec as the world’s leader in warehouse robotics, so ultimately we will move to new markets and open new offices,” said Romain Moulin, Exotec co-founder and CEO. “At this stage, we will focus on growing our customer base where we already have offices, but within the next two years we will certainly open new offices in Asia and in the Middle East.”
The announcement comes as the COVID-19 pandemic continues to yield ongoing disruptions and breakdowns in the supply chain, from inventory delays to port congestion.
Exotec looks to improve operational efficiency with its warehouse robotic solutions. Exotec's signature product, The Skypod system, enables high-density inventory storage and retrieval using robots that can reach a height of 36 feet.
"Following the most significant supply chain disruptions of the modern era, there's only room left for innovation," Moulin said in a news release. "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."
Exotec supports over 30 brands spanning e-commerce, grocery, retail, manufacturing and third-party logistics. The company has secured $477 million in funding from investors such as Goldman Sachs, Bpifrance, 83North, Dell Technologies Capital, Iris Capital, 360 Capital Partners and Breega.
