Verity, a leading autonomous indoor drone company, has successfully concluded an additional $11 million investment in its Series B funding round, bringing the total round to $43 million. The latest investment includes participation from Qualcomm Ventures, joining existing investors such as A.P. Moller Holding, Exor Ventures, Fontinalis Partners, Airbus Ventures, and others. The completion of the Series B round will enable Verity to accelerate its mission of providing data-driven intelligence and inventory management solutions through self-flying drones.
Verity's autonomous drone technology, combined with advanced data analytics, aims to address crucial challenges in the supply chain industry, including labor shortages, lost productivity, inventory errors, and waste. By offering real-time visibility and precise control over inventory, Verity's solutions drive operational efficiencies, cost savings, and reductions in CO2 emissions.
The company is establishing itself as a market leader in deploying autonomous inventory management solutions, with installations in 13 countries and a diverse client base that includes retailers, third-party logistics providers, and manufacturers. Verity's asset-light system can be quickly installed in just one week.
Verity's Founder and CEO, Raffaello D'Andrea, expressed enthusiasm about the new investment and the alignment of Qualcomm Ventures' vision with Verity's mission. D'Andrea stated,
"We are thrilled to welcome Qualcomm Ventures as a new investor in Verity. Their clear vision of supply chain transformation makes them an ideal partner as we continue to innovate and scale our autonomous inventory management solution."
Boaz Peer, Senior Director at Qualcomm Israel Ltd. and Managing Director of Qualcomm Ventures Israel and Europe, highlighted the significance of Verity's technology in the future of supply chains. Peer said,
"The supply chain of the future is autonomous and automated. Verity's self-flying drone technology and advanced warehouse inventory analytics are helping transform supply chains by enabling end-to-end, real-time visibility. We're excited to invest in Verity as it scales its operations internationally."
The additional capital will fuel the company's growth, as Verity remains focused on driving innovation, expanding its market presence, and delivering exceptional value to clients worldwide.
.png)
