Growing demand for warehouse automation technology
There exists a growing demand for warehouse automation technology, especially in the US and Asia.
One company expecting to service that demand is French-based Exotec which has just raised $90m to support the international expansion of its warehouse robotics solutions.
The round was led by 83North, with participation from Dell Technologies Capital, and supported by historical investors Iris Capital and Breega.
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Exotec is the creator of the Skypod 3D warehouse robots, a leading robotics solution for logistics.
This new money will further fuel Exotec's international development, especially their recently formed Atlanta and Tokyo teams. Exotec plans to become the leader in robotics solutions for logistics and forecasts it 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. Its 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.
Warehouse robotics have a 45% CAGR while the global automation market's CAGR is also constantly growing by up to 15%.
Romain Moulin, co-founder and CEO of Exotec, said: "There is a global need for robotics solutions in warehouses, but logisticians are often concerned about investing in traditional fixed automation in this fast-changing world. This $50 billion market should be supplied with flexible and efficient solutions to fulfill customers' needs and new shopping timelines. We offer a new generation of warehouse robotics and have the largest deployed and operational systems across three continents."
Exotec clients include Carrefour and Fast Retailing (Uniqlo group), both of which use the technology in key warehouses.
The latest funding round will allow the company to further expand and deliver their fully adjustable robotics solution to a wider range of clients in the US, Europe and Asia, across numerous B2B and B2C retail sectors such as fashion, grocery, pharmaceutical, hardware, and manufacturing.
In North America, Exotec is expanding its footprint to meet the increasing demand for automated logistics. The company has signed partnerships with American integrators such as AHS, S&H Systems and Conveyco to accelerate market penetration.
Rudi Lueg, Managing Director of North America at Exotec, added: "Brands and retailers are seeing a tremendous surge in e-commerce, accelerated by the current pandemic. They must now transform their supply chain to gain competitive advantage. Exotec is addressing this challenge and is the leading player in scalable robotics systems."
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Exotec's robots allow retailers and e-merchants to quadruple their warehouse productivity, and increase up to five times their storage capacity.