French nugget Exotec solidifies its global ambitions with a new $ 90 million fundraiser. On Tuesday, September 29th, startup 83North announced this new transaction (and the participation of Dell Technologies Capital). Its attractiveness has increased sharply after the health crisis, as the boom in e-commerce benefits the players in intralogistics.
Exotec has a promise: to quadruple the productivity of brands with stocks thanks to its “Skypod” robot model, which is fast (up to 4 m / s) and can optimize the storage of goods with a density of up to 4 m / s’ up to five times higher after launch. It currently benefits from its legitimacy thanks to its main customers: Decathlon and Casino, Leclerc and Cdiscount on French soil, and Uniqlo in China. The growth is insane averaging 45% per year.
🎂 Today #Exotec celebrates its 5 years!
At first it was an idea: the system #Skypod
And now :
+ 1M km traveled and 100,000 km racks climbed from ours #robots
10M of #Assignments ready
And the#Adventure goes on🚀#Anniversary #Birthday pic.twitter.com/YxfQMoIcPd
– Exotec (@exotec) June 25, 2020
It must be said that despite the strong and much greater competition, the market is cheap for Exotec. “The global demand for robotic storage solutions is strong. This 50 billion dollar market requires flexible and efficient solutions to meet customer expectations and new buying behavior. “ said Romain Moulin, co-founder and CEO of Exotec.
In 2019, the French startup had sales of 19.93 million euros. Exotec plans to leverage an on-demand market that will grow 10 to 15% through 2022 to double its results this year. On the other hand, the competitors, especially the Americans, achieve sales between 500 million and 3 billion euros. The 90 million euros in fresh money will be used to expand its activities in Europe, but also in Asia and the United States.
In a press release Exotec promises to continue its production in northern France, in the city of Croix in the metropolis of Lille, where the headquarters are located. The 6,000 m2 facility also has a research and development center that aims to design its new robots (and their software) to meet increasing retail demand. In Japan, alongside Uniqlo, the goal is to position itself in food e-commerce.
It’s hard to know if Exotec will one day try to restore Amazon to its customers. Currently, the e-commerce giant is working with its own robots, which it picked up during Jeff Bezos ‘companies’ acquisition of Kiva Systems and Canvas Technology. Either way, this fundraiser is a source of pride in the French tech landscape.
For the Founding partner by Breega François Paulus, Romain and Renaud, “” The co-founders managed to meet the high demand in record time while building and developing an impressive team. We look forward to the progress that is being made with this latest fundraiser. “