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Warehouse robot firm Dexory raises £15m for US expansion

Dexory Co-founders
The co-founders of Dexory. Image credit: Dexory

Autonomous warehouse robot company Dexory has secured $19m (£14.95m) in funding to fuel international expansion as it looks to capitalise on the boom in ecommerce coupled with logistics inefficiencies exacerbated by global supply chain shocks.

The London-headquartered company has created robots that autonomously navigate and scan a fulfilment centre to create a digital replica using built-in cameras and sensors.

Logistics customers can view this ‘digital twin’ of the warehouse via Dexory’s software platform to manage inventory and optimise warehouse operations. Dexory plans to use part of the capital injection to develop forecasting and simulation technology.

The Series A round was led by new investor Atomico, a European VC firm that counts the likes of Klarna and Graphcore among its portfolio.

Existing investors Lakestar, Kindred and Capnamic provided further capital.

It also received follow-on investment from Maersk Growth, the investment arm of the global logistics and container shipping company Maersk, which is also a customer of Dexory.

In January Maersk deployed a Dexory robot and the firm’s data platform at its Kettering site and has since expanded the partnership across all its warehouse operations in the region.

Other companies that use Dexory’s logistics technology include Menzies Aviation and Huboo.

“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,” said Dexory CEO and co-founder Andrei Danescu, who briefly worked with Force India Formula One Team as a track-side engineer.

Dexory, previously known as BotsAndUs, launched in 2015. It was founded by Danescu and his two school friends from Romania: Adrian Negoita and Oana Jinga.

The company said it will use the funding to ramp up expansion to “key markets” that include the US, along with central and Northern Europe.

Dexory plans to double its headcount – which stood at 50 in April – by the end of the year.

The Series A round brings Dexory’s total funding to nearly $40m, including a $13m seed round in June 2022.

Atomico partner Ben Blume joins Dexory’s board as part of the deal.

Read more: Dexory founder on why you should make good friends of your first customers

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