83North leads $90m series-C round for Exotec

Eliza Punshi
30 September 2020

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83North has a led a $90m series-C round for Exotec, a French logistics and warehouse robotics maker.

Dell Technologies Capital, Iris Capital and Breega also joined the round.

Exotec will use the proceeds for further international development, especially their recently formed Atlanta and Tokyo teams. The company forecasts it will produce up to 4,000 robots per year by 2021.

This funding will also allow it to deliver its robotics offering to clients across numerous B2B and B2C retail sectors such as fashion, groceries, pharmaceuticals, hardware and manufacturing.

According to the company, its revenues doubled in 2020, as several new international clients – including Carrefour and Uniqlo Group – started using its technology in their warehouses.

Previous funding
In 2015, Exotec raised an undisclosed amount in seed funding. The following year, it raised $3.3m in a series-A round from 360 Capital Partners and Breega, followed by a $17.7m series-B round led by Iris Capital in 2018.

Company
Founded in 2015 and based in Croix, Exotec is a logistics and warehouse robotics maker. According to the company, its robots allow retailers and e-merchants to quadruple their warehouse productivity and increase up to five times their storage capacity. The company is present in Europe, the US and Asia, and counts Carrefour and Uniqlo among its customers. According to its LinkedIn page, it employs fewer than 200 staff.

People
Exotec – Romain Moulin (co-founder, CEO).
83 North – Laurel Bowden (partner).
Dell Technologies Capital – Scott Darling (president).
Iris Capital – Julien-David Nitlech (managing partner).
Breega – François Paulus (founding partner).