Exotec Raises $90 Million to Support Warehouse Automation Technology

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%.