London-based Dexory, a company that claims to pave the way for artificial intelligence and robotics to transform logistics, announced that it has secured approximately €17.35M in a Series A round of funding.
The round was led by European VC firm Atomico, with participation from existing investors Lakestar, Kindred, Capnamic, and Maersk Growth, the investment arm of the global logistics and container shipping company, Maersk.
Founded in 2015 by Andrei Danescu, Oana Andreea Jinga, and Adrian Negoita, Dexory addresses the need for improved space utilization and higher productivity in warehouses globally.
It does that by combining analytics with autonomous robots that can collect rich image and sensor data from all across a warehouse.
Dexory’s platform, DexoryView, offers insight across warehouses of any size and connects facilities throughout the global supply chain. It can do a full warehouse scan in a couple of hours, 100x quicker than people, providing clients with an instant image of the central hub in their supply chain.
Dexory says it will use the funds for international expansion in the US, and Central and Northern Europe. The company aims to double its workforce by the end of the year to support unit deployment functions and increased production.
Additionally, the money will also be used to speed up the manufacture of autonomous robots at Dexory’s factory in the UK and to continue expanding the company’s forecasting and simulation technology.
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