Dexory, a London, UK-based company specializing in AI software and autonomous robots for real-time inventory management in warehouses, raised $19 million in a Series A funding round led by European venture capital firm Atomico.
Existing investors Lakestar, Kindred, Capnamic, and Maersk Growth, the investment arm of the global logistics and container shipping company, Maersk, also participated in the round. As part of this investment, Atomico Partner Ben Blume will join Dexory’s board of directors.
The funding will support Dexory's expansion and further development of its platform, with a focus on markets such as the U.S., Germany, and the Netherlands. The funding will also be used to continue developing Dexory’s forecasting and simulation technology; as well as accelerating the production of its automated robots in its facility in the U.K.
The company combines powerful analytics with autonomous robots that capture image and sensor data, providing comprehensive visibility across warehouses of any size. Dexory's digital platform, DexoryView, connects warehouses in the global supply chain.
“For those operating warehouses, ensuring 100% fulfilment ‘in time, all the time’ is crucial to meeting the demands of the modern consumer. A critical component to achieving this is high stock accuracy, but staff shortages, manual processes, and the speed demanded by customers means that critical decisions across the supply chain are currently being taken blindly,” said Dexory CEO and co-founder Andrei Danescu. “Technology that is autonomous, real-time, intuitive, and integrated can have a transformative effect on the everyday efficiency, productivity, and accuracy of a warehouse - and form an integral part of revamping businesses supply chain strategies”.
Company: Dexory Limited
Round: Series A
Funding Month: July 2023
Lead Investors: Atomico
Additional Investors: Lakestar, Kindred, Capnamic, and Maersk Growth
Company Website: https://www.dexory.com/
Software Category: Real-time Inventory Management
About the Company: Dexory develops robotics and AI logistics solutions to drive better business decisions and develops autonomous robots for warehouse environments. It offers mobile and modular robots that measure, track, and find goods across warehouses without workflow disruption and provide data at every stage of the process. Dexory provides a platform that offers 360-degree visibility into customers’ warehouses, the beating heart of the supply chain. The company Currently operating in the U.K. and Ireland, Dexory serves various sectors such as logistics, supply chain, air cargo, retail, e-commerce, and manufacturing. Clients include Menzies Aviation, Denso Manufacturing U.K., Huboo, and Maersk. The company was founded in 2015 and is based in London, U.K.