French start-up Exotec has raised a $90 million Series C round led by 83North, with existing financiers Iris Capital and Breega also taking part. Other existing investors consist of 360 Capital. The company has been working on semi-automated warehouses for e-commerce clients.
The system is based upon tiny robots called Skypods. They stroll the floor and go up and down racks to get standardized bins of products.
The company also provides logistics software application to collaborate all those robotics through the storage facility. As you scale, you can add more robotics and more racks with no downtime.
It’s not going to replace people completely as you still need to get products from the bin and pack stuff. Human operators can remain at a workstation while robotics take care of all the roaming.
You can use a workstation to get products but likewise to renew bins. The idea is that you never ever have to enter the Exotec location. It’s a robot-only zone.
In addition to productivity gains, you can also increase your storage capability by switching to Exotec thanks to narrow aisles and high racks.
The business now has groups in Atlanta and Tokyo– it plans to produce 4,000 robots annually by 2021. Everything is manufactured in Lille, France in a 6,000 square-meter plant. The company currently has fourteen running systems all over the world. Clients consist of Carrefour, Leclerc, Cdiscount and Quick Retailing (Uniqlo).
Exotec has actually formerly raised $17.7 million in 2018 and $3.8 million (EUR3.3 million) in 2016.
Image Credits: Exotec Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.