3 years ago

Exotec Raises $335M, Becomes France's 25th Unicorn

  • Exotec, a French industrial robotics company, has raised $335 million in Series D funding at a $2 billion valuation, making it the 25th French startup to reach unicorn status

  • The funding round was led by Goldman Sachs Asset Management, with participation from 83North and Dell Technologies Capital

  • Exotec plans to use the new funding to expand its operations in North America, Europe, and Asia, as well as hire 500 engineers by 2025

  • The company's Skypod robotic system, which utilizes robots to reach heights of 36 feet, has been a key driver of its success

  • Exotec's announcement marks the achievement of French President Emmanuel Macron's goal of producing 25 unicorns by 2022, three years ahead of schedule

  • Macron has set a new target of creating 10 European tech giants valued at more than $114 billion by 2030.

      • ProblemTechnology

      "Logistics companies face labor shortages and struggle to meet the increasing demand for fast and efficient order fulfillment."

      Solution

      "Exotec builds robotics systems for warehouses that improve storage density and efficiency. Their robots work alongside human employees to increase productivity and sustainability in warehouse operations."

      Covered on