Warehouse optimization company Dexory has successfully raised $19 million in Series A funding. The investment round was led by European venture capital firm Atomico, with participation from existing investors Lakestar, Kindred, Capnamic, and Maersk Growth, the investment arm of global logistics and container shipping company Maersk. Ben Blume, Partner at Atomico, will join Dexory's board of directors as part of the funding arrangement.
Dexory aims to address the pressing need for improved space utilization and increased efficiencies in warehouses worldwide. The company combines advanced analytics with autonomous robots that can capture comprehensive image and sensor data within warehouses. By doing so, Dexory offers complete visibility into warehouses of varying sizes and facilitates connectivity between warehouses across the global supply chain through its digital platform, DexoryView.
Global supply chains have faced challenges due to factors such as the e-commerce boom, the COVID-19 pandemic, and conflicts like the war in Ukraine. Warehouses, as crucial components of the supply chain, have been particularly affected. Dexory CEO and co-founder Andrei Danescu emphasizes the importance of high stock accuracy and the need for technology that provides real-time, intuitive, and integrated solutions to enhance warehouse efficiency and accuracy.
Rising costs, limited warehouse availability, high demand for goods, and labor shortages have prompted the industry to seek ways to improve space utilization and increase operational efficiencies. Dexory's platform, already integrated with leading distribution companies such as Maersk and Menzies Aviation, offers 360-degree visibility into customers' warehouses. Many warehouse operations still rely on manual processes, and global companies often employ multiple warehouse management systems (WMS) across their distributed facilities. Dexory's platform, DexoryView, can perform a full warehouse scan much faster than humans, providing customers with immediate inventory visibility, accurate stock information, and improved decision-making capabilities.
DexoryView also serves as a "digital twin" of the warehouse, enabling customers to manage and optimize warehouse performance. This allows human workers to focus on more complex tasks, leading to enhanced productivity and resource allocation.
The Series A funding will support Dexory's international expansion into key markets, including the United States, Central Europe, and Northern Europe. The company plans to double its workforce by the end of the year to support unit deployment functions and increased production. Additionally, the funding will be allocated to further develop Dexory's forecasting and simulation technology, as well as accelerate the production of its automated robots at its facility in the United Kingdom.
Dexory aims to embed accurate and real-time data into its customers' supply chains, aiming to improve warehouse operations and drive increased efficiencies across the industry. With its innovative approach and market traction, Dexory is poised to play a significant role in enhancing warehouse capabilities.
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