Exotec Solutions, a leading French AI robotics start-up bringing top logistics performance to e-commerce, today announced a €15 million Series B investment led by the European VC Iris Capital, alongside a significant reinvestment from historical investors 360 Capital Partners and Breega.
The fundraising will help the team grow and deliver 1000 new robots by 2019. Relying on a team of highly qualified R&D professionals based in France, the company has already delivered high scale infrastructures and 3D mobile robots to e-commerce and retail specialists. As the system can be used both in traditional and grocery ecommerce it can significantly improve the order processing speed in any warehouse.
Made in France from European high-tech components, the Skypod sets a new standard by moving 4 times faster and 5 times higher compared to traditional shelf-mover robots. It can handle twice the number of picks per hour and save warehouse workers up to 15 km walk per day, helping them manage the workload from stations where the robots deliver the requested items.
“We are really proud to have been incubated by ParisTech Entrepreneurs and to represent the French Tech and French Fab at a high level. The ecommerce massive growth represents an infinitive possibility for us to expand and our investors support will help us spread internationally while developing an ambitious product roadmap,” says Romain Moulin, CEO and cofounder of Exotec solutions.
"In 2023 the logistics industry is expected to weight over €10 trillion globally, counting especially on the e-commerce fast growth. While retailers and platforms are expected to always deliver more and faster to customers, smart robots are now necessary to support warehouse workers. In just three years, Exotec Solutions has grown into an amazing company that literally revolutionizes logistics in ecommerce and retail. We have been highly impressed by Romain and Renaud’s vision and execution and by the potential addressed by Exotec. We are very proud to fuel such a team and their expansion," says Julien-David Nitlech, Partner at Iris Capital.