Exotec

ProMat roundup: The biggest announcements from Day 1 & 2

CHICAGO — ProMat 2023 is well underway, and the announcements have been coming fas and furious.

The massive trade show, running this week for the first time since 2019, features 1,000 of the top supply chain and logistics companies pitching their latest and greatest solutions to tens of thousands of guests.

As you can imagine, the 500,000-square-foot show floor is jam-packed with firms across industries like robotics, automation, manufacturing, assembly, delivery, fulfillment and information...

https://www.freightwaves.com/news/promat-roundup-the-biggest-announcements-from-day-1-2

Warehouse robotics firm Exotec raises $335M, reaches $2B valuation

Exotec Skypicker warehouse robot

Operating in a market that is expected to grow at double-digit rates for the next five years to reach $9.1 billion by 2026 provides plenty of room for investment.

Exotec is the latest to benefit, closing a $335 million series D funding round led by the Growth Equity business within Goldman Sachs Asset Management with follow-on investments from 83North and Dell Technologies Capital.

The funding values Exotec at $2 billion. The company’s last funding round was a $90 million round in September 2020....

https://www.freightwaves.com/news/warehouse-robotics-firm-exotec-raises-335m-reaches-2b-valuation

Retailers Ariat, Decathlon latest to adopt Exotec robotics

Footwear retailer Ariat and Decathlon, the largest sporting goods retailer in the world, will each deploy the Skypod robotics system from Exotec.

Ariat’s system will be installed by systems integration specialist Advanced Handling Systems (AHS), which has previously worked with Exotec on the installment of the system by Gap.

“Ariat is excited to partner with AHS and Exotec in our journey to bring unparalleled service to our customers,” said Matthew Hardenberg, senior director of distribution at...

https://www.freightwaves.com/news/retailers-ariat-decathlon-latest-to-adopt-exotec-robotics

Gap puts Exotec’s robotics system to the test in returns management

E-commerce growth is driving more companies to automate their warehouses. The speed and cost savings that can be gained through robotics and automation can help offset the demands of e-commerce picking, which is both time-consuming and expensive.

Warehouse automation saw 50% growth in venture capital investment in 2020, and the global warehouse robotics sector is expected to reach $6.8 billion by 2025. Despite the increasing pressure for speed and accuracy that e-commerce has generated, 80% of...

https://s29755.pcdn.co/news/gap-puts-exotecs-robotics-system-to-the-test-in-returns-management

Riding warehouse robotics wave, Exotec raises $90M

French company Exotec has raised $90 million to expand its autonomous robotics system as online shopping intensifies demand for more efficient warehouse management.

The round, announced on Tuesday, was led by 83North — with participation from Dell Technologies Capital and existing investors Iris Capital and Breega.

Operating at the intersection of robotics and materials handling, Exotec helps brands solve fulfillment challenges caused by the Amazon effect: the crushing need to get individual...

https://s29755.pcdn.co/news/riding-warehouse-robotics-wave-exotec-raises-90m