Robotic warehouse startup Dexory has successfully secured £60m in a joint equity and debt-based Series B funding round, marking a significant milestone in its growth trajectory.
- The company, known for its autonomous robots that produce operational insights, was founded in 2015 and has continuously innovated in the warehouse automation sector.
- This latest funding round was led by DTCP, with contributions from Latitude Ventures, Wave-X, Bootstrap Europe, and existing investors such as Atomico and Lakestar.
- Dexory’s technology enables the creation of digital twins for fulfilment centres, enhancing operational efficiency by integrating detailed actionable data into supply chain management.
- The infusion of new capital follows a previous £15m raise and brings Dexory’s total funding to $120m.
Dexory’s fundraising achievement underscores its prominent position within the warehouse automation industry. The startup, established in 2015, has dedicated its efforts to developing fully autonomous robots. These robots are capable of scanning fulfilment centres and generating high-quality operational insights, which are crucial for enhancing productivity and efficiency. By utilising advanced technology, Dexory’s robots create digital replicas or ‘digital twins’ of physical spaces, facilitating better management on the company’s proprietary software platform.
The most recent funding round, which brought in £60m, was structured as a combination of equity and debt, with equity forming the majority share at 70%. This strategic financial arrangement not only solidifies Dexory’s financial footing but also exemplifies investors’ confidence in its technological capabilities and market potential. Notably, DTCP spearheaded this investment, with additional backing from Latitude Ventures, Wave-X, Bootstrap Europe, and returning investors such as Atomico and Lakestar. The participation of these investors highlights a strong belief in Dexory’s potential to drive transformation in warehouse operations through innovative solutions.
Dexory’s Chief Executive Officer, Andrei Danescu, expressed enthusiasm about the company’s progress over the past 18 months, pointing to the increasing importance of artificial intelligence in business strategy. He emphasised that the quality of data extracted by Dexory and the resulting operational insights are set to deliver substantial commercial benefits to its customers and stakeholders. This sentiment is echoed by Michael Rager, a partner in growth equity at DTCP, who acknowledged Dexory’s impressive capacity to capture detailed data from physical environments and seamlessly integrate it within the broader supply chain.
Dexory’s endeavours not only align with but also advance industry trends towards digitisation and automation, positioning the company favorably within these growing sectors. The total amount raised by Dexory now stands at $120m, following an earlier £15m fundraising effort last June. Such substantial investments validate the firm’s strategic direction and the robustness of its technological offerings.
Dexory is strategically positioned to lead advancements in warehouse digitisation, backed by significant investment and impactful technology.
