Verity AG, which makes autonomous drones for indoor use, last week announced that the Technology Fund, a Swiss Government program supporting cleantech ventures, awarded it a financial guarantee. The Zurich-based company said it plans to use the funding to meet growing demand for its inventory-tracking system.
“The Technology Fund’s support is important validation that the Verity system does even more than improve employees’ lives and add commercial value,” stated Raffaello D’Andrea, founder and CEO of Verity. “By eliminating errors and supply chain inefficiencies, it also delivers a substantial positive impact to the environment. Reducing waste is critical and urgent, and we are proud to support that effort.”
Founded in 2014, Verity said its team includes Kiva Systems (now Amazon Robotics) founders and ETH Zürich engineers, systems specialists, and data scientists. It also includes professionals representing more than 20 nationalities, a variety of advanced degrees, and experience at some of today’s most innovative companies. The company said they have designed, built, and deployed “the world’s first fully automated inventory tracking system powered by self-flying drones.”
Verity promises to boost warehouse sustainability
Verity said its system uses self-flying drone technology to automates inventory checks in large warehouses and distribution centers.
“By enabling zero-error warehouses, the system helps reduce CO2 emissions—especially for products that require substantial CO2e to produce, those that expire, or those that are made redundant due to inventory tracking errors,” it claimed.
Depending on the type of product, that savings could be equivalent to taking up to 5,000 cars off the road per 100,000-pallet warehouse, added Verity. With nearly 4 million fully autonomous inventory checks completed to date, the company said its clients are demonstrating the benefits of this automation every day.
Technology Fund supports Swiss startups
The Technology Fund offers loan guarantees to Swiss companies whose novel products contribute to a sustainable reduction in greenhouse gas emissions.
Verity said its automated supply chain technology will meet demand from third-party logistics providers (3PLs), big-box retailers, and manufacturers in Europe and the U.S. Verity Studios has also provided drones for the entertainment industry.
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