Exotec Solutions Raises $17.7Million In Funding: French AI Robotics Startup

Exotec Solutions is a French startup founded by Romain Moulin, the CEO, and Renaud Heitz, the CTO, back in 2015 which focuses on the detailed organization and implementation of complex operations for traditional and grocery e-commerce companies. It now has raised $17.7 million (equivalent to 15 million Euros) in funding rounds, from Iris Capital. There was participation from the already existing investors 360 Capital Partners and Breega. The company plans to pour the funds into growing its team and delivering 1000 new robots by the year 2019. The automated robots which were constructed by Exotec Solutions are called the Skypods, which are built to make the best use of e-commerce warehouses.

E-commerce has become very popular in the recent years and millions of people around the world shop online. The fact that every single time we place an order online, there is a myriad out there walking long distances in the aisles to pick the items we have chosen. Exotec Solutions provides a solution for this by replacing it with an automated robot system that move in 3 dimensions, transferring the goods in the warehouse to the members of the team who can then work on packing and shipping of the products for delivery to the customers instead of walking long distances up till the sky ceiling racks. This indicates that the Skypods not only move on the flat grounds, but they can also move up and down a stand and get you whatever box you require from the shelves. The system of the firm runs on order preparation system that utilizes the 3D mobile robots. Artificial intelligence and navigation through laser scanning enable the robots to navigate inside the warehouse with 30+ kilogram bins.

It’s well known to everyone that the e-commerce firms aren't going to make a deal with Exotec Solutions in a day or two. For example, many firms find themselves in for a massive demand during the holiday season. So Exotec Solutions must be prepared that it can manage and govern as many pickups as possible during the times that pose challenges and demands.

Source: Techcrunch, Source of the image: VentureBeat