Robotics Pioneer Exotec Raises $335M Series D
Goldman Sachs Asset Management invests in Exotec robotic systems to improve
warehouse working conditions while also optimizing operational efficiency
ATLANTA, January 17, 2022 — Today Exotec, a leader in global warehouse robotics,
announced $335M in Series D funding at a $2B valuation. The Growth Equity business within
Goldman Sachs Asset Management led the round with follow-on investments from 83North and
Dell Technologies Capital. Exotec will leverage the funds to continue to launch large-scale
deployments in North America, Europe, and Asia for global brands. The company also plans to
hire 500 new R&D engineers by 2025 to accelerate the development of its high-performance
warehouse automation technology.
The pandemic illustrated how critical supply chain operations are to everyday, modern life as
communities continue to feel the negative impacts of ongoing disruptions and breakdowns.
From inventory delays to port congestion, these compounding challenges are only anticipated to
increase in frequency and severity. A recent report from Resilinc revealed that supply chain
disruptions were up 67% year-over-year.
“Following the most significant supply chain disruptions of the modern era, there’s only room left
for innovation,” said Romain Moulin, Co-founder and CEO of Exotec.
“While the entire logistics sector is fraught with uncertainty, one of the most prevalent challenges is ongoing labor shortages. Exotec pioneers a new path: elegant collaboration between human and robot
workers that delivers warehouse productivity in a lasting, far more sustainable way.”
“Exotec is well-positioned to seize the enormous warehouse automation market opportunity
both because of its global presence and strong track record of success with industry-leading
retailers and brands”, said Christian Resch, Managing Director in the Growth Equity business
within Goldman Sachs Asset Management.
“Exotec builds scalable solutions that are an accelerant for change and supports business growth despite market disruptions.”
« Exotec warehouse robotics have transformed our logistics operations in multiple markets
around the world, most recently in our Montreal fulfillment center,” said Richard Tremblay, Logistics Manager at Decathlon Canada.
“We value the unique combination of speed, performance, and flexibility that allows us to provide leading service to our customers. We look forward to a long-term partnership with Exotec.”
Exotec doubled its revenue and tripled its customer base since closing its $90M Series C
funding round in the fall of 2020. Additional achievements include:
● Customer growth in North America: Exotec signed 8 new, large enterprise customers
including Gap and Geodis and expanded its work with existing clients in new markets.
Most recently the largest sporting retailer in the world, Decathlon, deployed the Skypod
System in its Montreal fulfillment center following successful deployments in Europe.
● New technology to augment the flagship Skypod System: The company debuted its
Skypicker technology, an articulated arm able to move 600 items per hour to support
high-volume fulfillment and returns.
● Expanding global team: To date, Exotec employs more than 300 professionals around
the world and aims to double its global headcount by 2023.