Exotec raises $335 million for its warehouse robotics system
- ByStartupStory | January 17, 2022
Exotec has raised a $335 million Series D round in a new round of funding led by Goldman Sachs’ Growth Equity business. The company sells a complete end-to-end solution to turn a regular warehouse into a partially automated logistics platform. It’s a hardware and software solution that replaces some human tasks. Previous Exotec investors include Bpifrance, Iris Capital, 360 Capital Partners and Breega.
The Skypods are the most important part of the Exotec system. These unobtrusive robots roam the floor on their own. They can go up the rack to pick up a bin and then go down with the right bin once they’re close to the right rack. This is especially useful for increasing a warehouse’s storage density because products can be stored a few metres above ground.
The Skypod then transports the bin to a picking station, where human operators can retrieve the correct product from the bin. After that, the robot can return to the racks and place the bin on a shelf.
Humans are no longer required to roam the warehouse in this scenario. They can concentrate on picking, packing, and ensuring that products are delivered to and from the warehouse. Exotec tries to be as adaptable as possible when it comes to adding new products, shelves, and Skypods.
You can expand your infrastructure without having to start from scratch if you want to add more racks. Exotec, on the other hand, allows you to expand the system by adding more Skypods. When you receive a shipment of products, Exotec uses its Skypods to store them in the fulfilment centre once more.
Exotec’s standardised bin system allows it to store multiple products in a single bin. Customers may want one, two, or three products from that bin, but they are unlikely to want the entire bin. Exotec can’t simply empty small bins into a larger bin to put together an order because of this.
The company has developed new robots to eliminate one more step in the ordering process. Customers of Exotec can now use Skypickers to pick items from an inventory bin and place them in a ready-to-ship bin automatically.
Exotec has always marketed its product as a service that cannot completely replace humans. Humans and robots work together to run an Exotec warehouse. However, with the Skypickers, the startup is positioning itself as a logistical advantage in a labour market that is tight.
The startup plans to hire 500 engineers by 2025 as a result of today’s funding round, as well as continue its push into North America. It recently signed eight major regional customers, including Gap and Geodis. Exotec is also used by Decathlon in its fulfilment centre in Montreal.
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