Robotics, AI, and data intelligence company Dexory recently announced it has successfully closed an $80 million Series B funding round.
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 participants from the logistics industry. As part of this investment, DTCP growth equity partner Michael Rager joined Dexory’s board of directors.
“We are very impressed by the progress Dexory has made in transforming warehouse operations,” Rager said. “The company is perfectly positioned at the intersection of our investment thesis on digitisation and automation. Its 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.”
AI data intelligence company has raised $120M over past three years
The new funding, made up of a mix of equity and growth debt, will support an expansion of features across its DexoryView AI-enabled digital twin platform, grow its global team, and accelerate the deployment of its autonomous mobile robots (AMRs) to customers.
A significant focus continues to be on expanding across the U.S. market, where Dexory has already deployed its systems to customers in seven states. The company recently opened its U.S. headquarters in Nashville, Tenn. The Series B will also enhance development and production facilities at its U.K. headquarters.
With the close of the funding round, Dexory has now raised $120 million over the past three years. The company said it has demonstrated growth since the first commercial launch of their autonomous warehouse robots and data management software platform for the logistics space 18 months ago.
“We are incredibly excited about the momentum we’ve built over the past 18 months,” said Andrei Danescu, Dexory CEO and co-founder. “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.”
DexoryView can help logistics companies maximize efficiency
Dexory said it is setting new standards and unlocking new value warehouse customers planning for the future, as businesses continue to manage myriad challenges across their supply chains, amidst cost and service pressures.
The company added its systems are ideally placed to capitalize on market trends, whilst ensuring warehouse and supply chain professionals can deliver accuracy and service levels for even the most high-paced and demanding of operations.
Dexory said it directly addresses the logistics market’s need to maximize operating efficiencies across national and global networks. DexoryView can provide comprehensive real-time visibility across warehouses of any size through its AMRs and AI. Through datasets generated from environmental sensors and cameras, continuous scanning, and the company’s latest AI developments, Dexory said it can help companies optimize their operations.
Current customers have improved inventory accuracy, labor productivity
Dexory’s robotics and AI platform is already making an impact for logistics and distribution companies such as Iron Mountain, GXO, Unipart, Yusen Logistics, Maersk, as well as manufacturing players such as GE Appliances and Denso. By providing 360-degree visibility into warehouse operations, DexoryView can enhance inventory management and operational decision making.
The DexoryView platform’s capability to perform rapid warehouse scans and create digital twins of warehouse spaces can allow for optimized performance and future scenario simulations.
Dexory said organizations such as DB Schenker have been able to increase their inventory accuracy by 6% and maintain it daily, whereas businesses like ID Logistics have been able to reduce manual inventory investigations by 41% in just two months, improving labor productivity and freeing up valuable time for other critical tasks.
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