Dextrous Robotics moved into a new Midtown HQ eight months ago. Yesterday, CEO Evan Drumwright announced the startup is shutting down operations.
"Put simply, we adopted an aggressive trajectory 18 months ago that the recent investment market didn’t support," Drumwright wrote on LinkedIn. "We became insolvent as a result."
Last May, Dextrous had 10 employees and was looking to hit 45. The company had just moved from a 3,000-square-foot space in Crosstown Concourse to a 20,000-square-foot facility in Midtown at 802 Rozelle St. Dextrous launched in 2019.
Its main product, the DX-1 robot, was designed to take advantage of a need in the logistics industry, with the ability to remove boxes off of trucks at a pace of 2,000 an hour. According to Drumwright, the company was close to providing the DX-1 to additional clients.
"We are so proud of the robot, DX-1, we built that deftly uses bimanual manipulation to move boxes out of trucks, and we were eagerly looking forward to deployments with two large logistics companies that were on track for early this year," he wrote.
Drumwright closed out his post by saying that he was planning on continuing to operate in the robotics sector.
"Although Dextrous is ending, the knowledge and growth gained from the experience will remain with the entire team," he said. "Personally, I am committed to pushing the state of the art in robotics to better the human experience and will continue to pursue bold projects in service of that goal."
The company was trending upward in 2023. In addition to its new HQ, co-founder Suzanne Drumwright was a speaker at LaunchTN in September.
