Swiss autonomous inventory drone system maker Verity extends new funding to $43 million

Zürich-based autonomous inventory drone system maker Verity has raised an additional $11 million in an oversubscribed Series B round, taking the rounds’ total to $43 million. The capital will allow the company to accelerate operations and meet the growing backlog of deployments. Since late 2015, Verity has raised approximately $74 million.

Qualcomm Ventures now joins a host of distinguished investors, with A.P. Moller Holding leading the funding round that saw the participation of Exor Ventures, and new and existing investors including Fontinalis Partners, Airbus Ventures, Sony Innovation Fund, ROBO Global Ventures and Verve Ventures participating.

Founded by Raffaello D’Andrea, former co-founder of Kiva Systems, a mobile robotic fulfillment system that was acquired by Amazon in 2012 for $775 million and rebranded as Amazon Robotics, Verity’s autonomous indoor drones can provide third-party logistics providers, retailers, manufacturers, and let’s be honest, just about anyone who has a space to keep stuff and needs to keep track of it, a zero-error inventory management solution.

With installations up and running in some 13 countries, Verity’s system eliminates the variable and substitutes fully automated self-flying warehouse drones that require no operator, can fly in pitch-black conditions, and can be installed in one week.

“We are thrilled to welcome Qualcomm Ventures as a new investor in Verity,” commented D’Andrea. “Their clear vision of supply chain transformation is perfectly aligned with Verity's mission. Their extensive expertise and global resources make them an ideal partner as we continue to innovate and scale our autonomous inventory management solution. We look forward to leveraging their insights and network.”