Dexterity announces $140 million in new funding
Funding to support first 1,000 robot Installations for new and current customers of vendor which touts its ability to equip commodity robots with vision, touch and contextual intelligence to excel at handling unstructured piles of goods
Dexterity, the creators of intelligent robotic systems for logistics, warehouses, and supply chain, today announced that it raised an additional $140 million in Series B equity funding and debt. Major existing investors Lightspeed Venture Partners and Kleiner Perkins greatly expanded their commitment to Dexterity by leading the Series B, with additional participation from Obvious Ventures, B37 Ventures and Presidio Ventures. Dexterity will use the new capital to support the growth of the company as its first thousand robots are deployed into production.
The latest funding round raises Dexterity’s total capitalization over $200 million.
Dexterity states that its 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 company’s robotic software-as-a-service (SaaS) product solutions are said to equip commodity robots with vision, touch and contextual intelligence to handle unstructured piles of goods with human-like dexterity and speed. Specifically, Dexterity explains its solutions excel at handling the hardest to grasp items in any warehouse and without requiring expensive and bulky auxiliary infrastructure. Dexterity states its robotic systems have handled 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, to 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, Dexterity’s CEO. “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.”
Dexterity’s fleet of installed robots have moved over 14 million items in production at its customers’ sites over the past two years, according to the company. Dexterity’s full-stack approach includes software, hardware design and integration, deployment, and 24/7 support with a performance guarantee for customers as they scale up.
Dexterity is currently working with customers across North America and Japan.
