XSQUARE Technologies Raises S$10.5M in Series A

by Kay Aloha Villamor in May 24th, 2024

XSQUARE Technologies, a Singapore-based company specializing in intelligent warehousing automation, raised S$10.5 million in Series A funding.   


The round was led by Wavemaker Partners, with additional participation from SEEDS Capital and Goldbell Corporation.   

Wavemaker Partners is Southeast Asia's leading VC firm investing in early-stage Enterprise, Deep Tech, and Sustainability startups. Since 2012, it has backed more than 210 companies across the region, with more than US$450 million in total committed capital and exits generating over US$2.2 billion in enterprise value.  

XSQUARE Use of Funds  

The company will use the fresh funds towards accelerating regional growth and advancing product development. XSQUARE plans to expand its regional operations, enhance go-to-market strategies, and advance research and development to introduce new AI-powered features.  

About XSQUARE Technologies  

Founded in 2019, XSQUARE Technologies provides cutting-edge warehouse automation solutions across Asia Pacific and beyond. The company offer a suite of autonomous Forklifts and Intelligent Warehouse Orchestrator software that set new standards in interoperability and efficiency, simplifying warehouse operations without the need for extensive reconfiguration and thus saving time and costs. Spanning a diverse range of industries from pharmaceuticals to manufacturing, we have a rapidly growing clientele that includes prominent companies like Coca-Cola, GSK, and Katoen Natie.  

Funding Details         

Company: XSQUARE Technologies Pte Ltd.  

Raised: S$10.5M           

Round: Series A  

Funding Month: May 2024                  

Lead Investors: Wavemaker Partners  

Additional Investors: SEEDS Capital, Goldbell Corporation  

Company Website: https://www.xsquaretechnologies.com/  

Software Category: Warehousing Automation  

Source: https://en.prnasia.com/releases/apac/singapore-s-xsquare-technologies-secures-s-10-5m-in-series-a-funding-led-by-wavemaker-partners-447991.shtml 

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