Robotics and data intelligence company Dexory has successfully closed an $80 million Series B funding round.
With the close of the round, Dexory has now raised $120 million over the past three years.
The company has demonstrated incredible growth since the first commercial launch of its autonomous warehouse robots and software platform for the logistics space only 18 months ago.
Dexory directly addresses the logistics market’s urgent need to maximise operating efficiencies across national and global networks.
The company’s product, DexoryView, provides comprehensive real-time visibility across warehouses of any size through its autonomous mobile robots and AI. Through unique data sets generated from far-reaching sensor and image data, continuous scanning and the latest AI developments, Dexory unlocks new levels of optimization and seamless efficiency.
“We are incredibly excited about the momentum we’ve built over the past 18 months,” said Andrei Danescu, CEO and co-founder of Dexory.
“DexoryView is proving to be an unrivalled technology for driving real digital transformation and delivering better business outcomes in the warehousing and supply chain industries.
AI is clearly at the forefront of business leaders’ minds. With the quality of the data we are extracting and the powerful insights into operations that we generate, DexoryView will deliver commercial success for our customers and investors alike.”
The round was led by DTCP, with participation from Latitude Ventures, Wave-X and Bootstrap Europe, along with existing investors Atomico, Lakestar, Capnamic and several angels from the logistics industry. As part of this investment, DTCP’s Michael Rager joins Dexory’s board of directors.
“We are very impressed by the progress Dexory has made in transforming warehouse operations with its cutting-edge technology,” said Michael Rager, Partner - Growth Equity at DTCP and board member at Dexory.
“The company is perfectly positioned at the intersection of our investment thesis on digitisation and automation. I
ts ability to capture detailed, actionable data from physical spaces and integrate it seamlessly into the supply chain is impressive. We are confident in its vision and excited to support their product innovation and expansion into global markets.”
Dexory’s platform is already making a significant impact in leading distribution companies such as GXO, Unipart, Yusen Logistics, as well as manufacturing players such as GE Appliances and Denso. B
y providing 360-degree visibility into warehouse operations, DexoryView enhances inventory management and operational decision making.
The platform’s capability to perform rapid warehouse scans and create digital twins of warehouse spaces allows for optimised performance and future scenario simulations. Organisations such as DB Schenker have been able to increase their inventory accuracy by 6 per cent and maintain it daily, whereas businesses like ID Logistics have been able to reduce manual inventory investigations by 41 per cent in just two months to free up valuable time for other critical tasks.
The new funding, made up of a mix of equity and growth debt, will support an expansion of its AI-powered features across the DexoryView platform, grow its global team and accelerate the deployment of its autonomous robots with customers like GXO, Maersk, DB Schenker and beyond.
A significant focus continues to be on expanding across the US market, where Dexory is already live with customers in seven states. The Series B will also enhance development and production facilities at its UK headquarters.
Lead image: Dexory. Photo: uncredited.
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