Robotics technology company Dexory has raised $19 million in Series A funding led by European VC firm Atomico.
Dexory, which is already integrated in distribution companies such as Maersk and Menzies Aviation, uses analytics and autonomous robots to improve space utilisation and increased efficiencies in warehouses globally.
Through its DexoryView platform it provides enhanced inventory visibility, with a dashboard that tracks the detailed location of goods and allows for the quick identification of items, accurate information on stock levels, and better decision-making in warehouse operations.
“For those operating warehouses, ensuring 100% fulfilment ‘in time, all the time’ is crucial to meeting the demands of the modern consumer. A critical component to achieving this is high stock accuracy, but staff shortages, manual processes, and the speed demanded by customers means that critical decisions across the supply chain are currently being taken blindly,” said Dexory CEO and co-founder Andrei Danescu.
He added: “Technology that is autonomous, real-time, intuitive, and integrated can have a transformative effect on the everyday efficiency, productivity, and accuracy of a warehouse – and form an integral part of revamping businesses supply chain strategies”.
DexoryView can also be used as as a ‘digital twin’ replica of a warehouse to help maximise warehouse performance and free up human workers to focus on more complex activities. As part of the investment, which includes existing investors Lakestar, Kindred, Capnamic, and Maersk Growth, Atomico Partner Ben Blume will join Dexory’s board of directors.
“For an operation as complex and sophisticated as running a modern warehouse, the current lack of an automated way to capture data about the physical space is a major pain point,” said Atomico Partner Ben Blume.
This Series A funding round will be used for international expansion in key markets such as the US, and Central and Northern Europe, with aims to double Dexory’s workforce by the end of the year to support unit deployment functions and increased production. The funding will also be used to continue developing Dexory’s forecasting and simulation.
Photo by CHUTTERSNAP via Unsplash
