Exotec Reaches $1 Billion in Systems Sold
Wednesday, March 20, 2024
Founded in 2015, the global warehouse robotics provider is among the fastest material handling companies to reach that milestone.
ATLANTA, March 12, 2024 /PRNewswire/ -- Today, Exotec®?, a global warehouse robotics provider, announced that it has sold over $1 billion in systems globally, one of the fastest materials handling companies to reach the milestone. This achievement illustrates the rapid adoption of the Exotec technology since its founding in 2015 as it continually expands its headcount, reinvests into new solutions and reaches new markets across the world.
"Reaching the milestone of $1 billion in systems sold globally shows that our approach to warehouse automation is differentiated and strongly resonates with our customers," says Romain Moulin, CEO and Co-Founder at Exotec. "We are reinventing an industry that has historically relied on legacy automation that is static to business fluctuations, hard to maintain and expensive to integrate. Our continued growth is proof that flexibility and reliable performance are paramount for supply chain leaders everywhere."
"Exotec has proven its ability to execute large-scale projects and deliver remarkable value to clients. This has enabled the company to expand its footprint, deepen its relationship with large clients and grow revenues. We believe the company is well positioned for future growth given the ongoing need to bring technology and automation to the global warehouse industry," said Christian Resch, partner in Growth Equity at Goldman Sachs Asset Management.
Leading brands like Gap Inc., Decathlon, and UNIQLO trust and invest in Exotec's signature Skypod® system to help weather challenging business fluctuations.
Key highlights of Exotec's journey to $1 billion in systems sold:
-- Global Expansion: The company recently expanded its presence into
entirely new markets including Eastern Europe and South Korea, and also
opened a production facility in Croix, France which supports the
continuous development of its product roadmap. Reaching over 100
customer sites globally, the company has experienced record business
growth across key regions like APAC, Europe, and North America.
-- Increased Headcount: To help support its growing customer base across
the world, Exotec has grown its global headcount 80% over the past year
reaching 850+ employees globally. This is in stark contrast to the rest
of the material handling industry which contracted in 2023.
-- Reinvesting in R&D: Exotec heavily re-invests in the research and
development of new solutions (10% of its annual revenue), in order to
maintain a competitive pipeline of new innovations that address its
customers' most pressing pain points. In 2024, Exotec plans to recruit
close to 100 R&D professionals globally.
About Exotec
Exotec is a global warehouse robotics company powering the world's largest brands. The company combines the best of hardware and software to offer elegant warehouse robotic systems that drive operational efficiency, add resiliency, and improve working conditions for warehouse operators. 50+ industry-leading brands including Gap Inc., Carrefour, Decathlon, and UNIQLO trust Exotec to improve their operations across 100+ sites worldwide. Learn more at Exotec.com
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SOURCE Exotec
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