Robotics Pioneer Exotec Raises $335M Series D to Improve Supply Chain Resilience for Global Retailers
Goldman Sachs Asset Management has led a $335M Series D funding round for Exotec, valuing the company at $2B. This funding aims to enhance warehouse automation and improve operational efficiency, particularly in response to ongoing supply chain challenges. Exotec plans to hire 500 new R&D engineers by 2025 to accelerate technology development and has already doubled its revenue and tripled its customer base since its last funding round. The company is set to expand its global presence in North America, Europe, and Asia.
- Raised $335M Series D funding, increasing total funding to $477M.
- Valuation increased to $2B.
- Revenue doubled and customer base tripled since Series C funding in 2020.
- Plans to hire 500 new R&D engineers by 2025 to enhance technology.
- Expansion into North America, Europe, and Asia with new enterprise customers.
- Ongoing labor shortages in the logistics sector may pose operational challenges.
- Supply chain disruptions reported to have increased by 67% year-over-year.
Goldman Sachs Asset Management invests in Exotec robotic systems to improve warehouse working conditions while also optimizing operational efficiency
ATLANTA, Jan. 17, 2022 /PRNewswire/ -- Today Exotec, a leader in global warehouse robotics, announced
The pandemic illustrated how critical supply chain operations are to everyday, modern life as communities continue to feel the negative impacts of ongoing disruptions and breakdowns. From inventory delays to port congestion, these compounding challenges are only anticipated to increase in frequency and severity. A recent report from Resilinc revealed that supply chain disruptions were up
"Following the most significant supply chain disruptions of the modern era, there's only room left for innovation," said Romain Moulin, Co-founder and CEO of Exotec. "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 is well-positioned to seize the enormous warehouse automation market opportunity both because of its global presence and strong track record of success with industry-leading retailers and brands," said Christian Resch, Managing Director in the Growth Equity business within Goldman Sachs Asset Management. "Exotec builds scalable solutions that are an accelerant for change and supports business growth despite market disruptions."
"Exotec warehouse robotics have transformed our logistics operations in multiple markets around the world, most recently in our Montreal fulfillment center," said Richard Tremblay, Logistics Manager at Decathlon Canada. "We value the unique combination of speed, performance, and flexibility that allows us to provide leading service to our customers. We look forward to a long-term partnership with Exotec."
Exotec doubled its revenue and tripled its customer base since closing its
- Customer growth in North America: Exotec signed 8 new, large enterprise customers including Gap and Geodis and expanded its work with existing clients in new markets. Most recently the largest sporting retailer in the world, Decathlon, deployed the Skypod System in its Montreal fulfillment center following successful deployments in Europe.
- New technology to augment the flagship Skypod System: The company debuted its Skypicker technology, an articulated arm able to move 600 items per hour to support high-volume fulfillment and returns.
- Expanding global team: To date, Exotec employs more than 300 professionals around the world and aims to double its global headcount by 2023.
For more information about Exotec, the company's Series D funding round, and the Skypod system please visit, www.exotec.com.
About Exotec
Exotec is a global robotics company, building scalable warehouse robotic solutions that power the world's largest brands. The company offers flexible warehouse automation to improve operational efficiency and economics. Exotec's signature solution, The Skypod system, utilizes robots that can reach a height of 36 feet to enable high-density inventory storage and retrieval. Exotec supports 30+ industry-leading brands spanning e-commerce, grocery, retail, manufacturing, and 3PL sectors. To date, Exotec has secured
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than
Since 2003 the Growth Equity business within Goldman Sachs Asset Management comprising more than 75 individuals has invested over
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SOURCE Exotec
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