French robotics startup Exotec Solutions has announced a new funding round of €3.3 million and the opening of a new office in Lille. The funding comes from 360 Capital Partners, Breega Capital, and undisclosed previous investors.
Exotec builds a collaborative mobile robot, called the Exo, to assist in warehouse tasks.
The company plans to enhance its product and commercial development as well as triple its staff in the next six months. The new office in Lille will house engineers.
With further commercial development, the company intends to announce several partnerships with other companies in the logistics industry, according to CEO Romain Moulin.
“We are also finalizing the second generation of our product, powered with greater intelligence and preparation capabilities, ahead of its launch at the Intralogistics Europe in March 2017,” added CTO Renaud Heitz.
“Mobility applied to logistics, and more specifically to order preparation is a rapidly growing sector,” explained Francois Collet, general partner at 360 Capital Partners, adding that the sector of order preparation is worth around $30 billion.