Exotec Raises $90 Million to Support Warehouse Automation Technology

Exotec | September 29, 2020

Exotec, a leading robotics solution for logistics and creator of the Skypod 3D warehouse robots, announces today a $90 million financing round, led by 83North – with participation from Dell Technologies Capital – and supported by historical investors, Iris Capital and Breega. This new funding will further fuel Exotec's international development, especially their recently formed Atlanta and Tokyo teams and help them meet the growing demand for warehouse automation technology in the United States and Asia. Exotec has the ambition to become the leader in robotics solutions for logistics and forecasts they will produce up to 4,000 robots per year by 2021. Exotec's revolutionary robots allow retailers and e-merchants to quadruple their warehouse productivity and increase up to five times their storage capacity. Their 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 10 to 15%.

Spotlight

The Industrial Internet of Things (IIoT) is a major trend with significant implications for the global economy. It spans industries representing 62 percent of gross domestic product (GDP) among G20 nations, according to Oxford Economics,1  including manufacturing, mining, agriculture, oil and gas, and utilities. It also encompasses companies that depend on durable physical goods to conduct business, such as organizations that operate hospitals, warehouses and ports or that offer transportation, logistics and healthcare services.

Spotlight

The Industrial Internet of Things (IIoT) is a major trend with significant implications for the global economy. It spans industries representing 62 percent of gross domestic product (GDP) among G20 nations, according to Oxford Economics,1  including manufacturing, mining, agriculture, oil and gas, and utilities. It also encompasses companies that depend on durable physical goods to conduct business, such as organizations that operate hospitals, warehouses and ports or that offer transportation, logistics and healthcare services.

Related News

SUPPLY CHAIN

EKA Logistics Capital Unlocks Financial Services for Supply Chain SMBs

EKA Solutions Inc | December 01, 2021

EKA Solutions Inc, the industry leading provider of cloud-based integrated freight management ecosystem for carriers, brokers, and shippers, today announced that it has formed a wholly owned subsidiary, EKA Logistics Capital LLC, to provide working capital financial services to carrier, broker, and shipper SMBs beginning January 2022. "Given the rapidly growing freight volume processed through the EKA Omni-TMS™ Platform, it is timely for EKA to elevate and accelerate its contribution to empower SMB freight carriers, brokers and shippers to capture dual benefits - not only use the EKA Omni-TMS to digitally manage their freight management operations but also to digitally consume and manage working capital services," says JJ Singh, Founder and CEO for EKA Solutions, Inc. "The combination of EKA leadership teams' deep financial services experience and the best-in-class financial services platform enables EKA to deliver working capital solutions and services that further help SMBs compete with their much savvy competitors," added Singh. Designed to tech-up carriers, brokers, and shippers for the future of business, EKA Omni-TMS™ platform is a native cloud-based SaaS TMS that has become the company's signature solution product and has earned EKA the prestigious FreightTech 100 award. EKA's freight management and working capital solutions and services workflow processes have been optimally melded for highest seamless productive user experience and to accrue lowest customer lending costs. The result is a highly efficient and effective open loop automated receivables financing and payments digital platform for any carrier, broker, and shipper." Mark Walker, President and CDO. About EKA EKA Solutions, Inc., provides a transformational cloud-based SaaS digital freight ecosystem management platform, dFEMX™, to manage all the customer's freight businesses and working capital services. As part of the dFEMX™ Offering, EKA provides the Smart, Unified Platform EKA Omni-TMS™ for - Virtually – Everyone. EKA Omni-TMS™ is designed to transform the transportation and logistics industry. It empowers small, medium, and large size broker, carrier, and shipper businesses to operate from quote-to-cash with affordable and best-in-class digital tools, enabling the higher performance demanded in tomorrow's supply chain. With real-time information, EKA Omni-TMS™ enables brokers, carriers, and shippers to provide visibility and transparency as they fluidly trade across an expanding and verified network with key, trusted partners.

Read More

Independent Purchasing Cooperative Selects ArrowStream as their Strategic Technology Partner for Supply Chain Management

ArrowStream | September 14, 2020

ArrowStream, Inc. ("ArrowStream"), the leader in end-to-end supply chain management software for the foodservice industry, today announced a partnership with Independent Purchasing Cooperative ("IPC"), a purchasing co-operative for the owners of 25,000 Subway® restaurants in the U.S. and Canada. IPC has licensed ArrowStream's market-leading supply chain solutions to access timely visibility across its extensive partner network and to deliver the insights and operating precision required to provide the freshest and highest quality products to every Subway® location, each day. Founded in 1996, IPC was created to represent the best interests of Subway® Franchise Owners with a mission focused on Franchise Owner profitability and a sustainable, uninterrupted supply of high-quality goods. With ArrowStream, IPC will streamline its internal and external data sources through a single data platform to provide end-to-end visibility, to automate manual process and to intuitively uncover actionable opportunities. IPC will realize opportunities for optimizing food spend, proactively managing inventory, ensuring product and pricing compliance, and performing automated data-driven RFP processes with their suppliers.

Read More

LOGISTICS

Walmart's Multi-temperature Autonomous Box Trucks to go Fully Driverless

Walmart | December 17, 2020

Walmart's multi-temperature autonomous box trucks will go completely driverless along a two-mile test route in Bentonville, Arkansas, in early 2021, the retailer reported Tuesday. The organizations likewise declared they are expanding their operation to a second pilot program along a longer, 20-mile route between a New Orleans supercenter and a Metairie, Louisiana, pickup point. Walmart's move to driverless with Gatik will test the full potential of center mile autonomous delivery while the second test route will assess the technology's abilities over longer distances.

Read More