Dexory Raises $19M to Enhance Warehouse Operations with AI & Robots
Warehouse tech startup Dexory secures $19 million in Series A funding to expand its AI and autonomous robot-driven inventory management solution.
AI-Powered Warehouse Management
Dexory, a UK-based company specializing in AI-driven inventory management for warehouses, has raised $19 million in a Series A funding round. The investment was led by European VC Atomico. Dexory's solution combines autonomous robots, computer vision, and machine learning to provide real-time inventory data and enhance warehouse operations.
Data Capture and Analysis
The company's robots, equipped with sensors and cameras, capture 3D scans of warehouse sites, providing insights into item dimensions, shapes, sizes, and volumes. The data collected is processed using machine learning, generating a digital twin of the warehouse for easy visualization and efficient stock management.
Addressing Warehouse Pain Points
Dexory's technology offers solutions for various warehouse issues, including misplaced pallets and inventory count challenges. The system also aids in space optimization, capacity forecasting, and safety regulation compliance. Despite certain limitations, the system can resolve up to 80% of stock-check problems, according to Dexory's CEO, Andrei Danescu.
Plans for Expansion
Having successfully served clients in the logistics, supply chain, air cargo, retail, e-commerce, and manufacturing sectors in the UK and Ireland, Dexory plans to use the new funding to expand into the US, Germany, and the Netherlands. The expansion follows a successful partnership with Maersk, which recently decided to extend its collaboration with Dexory to more UK and Ireland warehouses.
Source: Tech Crunch