Exotec Raises $335 Million at $2 Billion Valuation

Exotec is a company which activity is devoted to robot fleet development. These robots are used for the automatization of warehouse operations. The company’s Skypod robots help people to retrieve items from shelves and bring them to employees for further processing for shipment.

The Series D funding round was led by Goldman Sachs Asset Management. 83North and Dell Technologies Capital also took part in the round. With the fundings raised, the company achieved unicorn status. Money will be used for further expansion to Europe, North America, and Asia.

Exotec, France, was founded by Renaud Heitz and Romain Moulin in 2015. In 2016 they were able to establish a partnership with an e-commerce leader in France Cdiscount, after that, they began designing robotics together. Robotics can carry 400 items per hour, while humans – only 80 ones. It also allows extending shelves higher, so that there is no need to build up an additional warehouse. “The demand from the market is huge,” says CEO Romain Moulin. “And it’s going to play a big role in leveling the playing field for everyone.”

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