Dexterity Raises $140M to Expand Warehouse Picking System
October 13, 2021
Dexterity, which creates intelligent robotic systems for logistics, warehouses, and supply chain companies, has announced it raised an additional $140 million in Series B equity funding and depth. The company said it will use the new capital to support the growth of the company as its first thousand robots are deployed into production. The latest funding raises Dexterity’s total capitalization over $200 million with a valuation of $1.4 billion.
The company’s intelligent robotics approach enables logistics providers to automate some of the most complicated tasks in the warehouse without needing to modify their existing infrastructure. The robotic software-as-a-service product solutions equip commodity robots with vision, touch, and contextual intelligence to handle unstructured piles of goods with human-like dexterity and speed. Specifically, the company said its solutions excel at handling the hardest to grasp items in any warehouse without requiring expensive and bulky auxiliary infrastructure. The company said its robotic systems have handled more than 50,000 SKUs, ranging from loosely packed deformable polybags to delicate hot-dog buns, to floppy tortillas, to poorly sealed cardboard boxes, to bags of earthworms, to trays and crates of consumer food, and even a molten birthday cake.
“Customers in retail, consumer goods manufacturing, and parcel handling need robots to scale quickly in order to manage the ever-increasing volume and variety of packages moving through their distribution centers,” said Samir Menon, the CEO of Dexterity. “Dexterity is grateful to be at the forefront of delivering intelligent robotic systems in production across existing customer sites with the goal of rapidly transforming their warehouse operations.”
The company’s fleet of installed robots have moved more than 14 million items in production at its customers’ sites over the past two years. The full-stack approach includes software, hardware design and integration, deployment and 24/7 support with a performance guarantee for customers as they scale up. They are currently working with customers across North America and Japan.
The funding round included existing investors Lightspeed Venture Partners and Kleiner Perkins, with additional participation from Obvious Ventures, B37 Ventures and Presidio Ventures. For additional details on the company and its systems, visit the Dexterity website here.