Verity extends Series B round to include Qualcomm Ventures, bringing round to $43 million
Autonomous indoor drone startup completes $32 million Series B round previously announced in March of this year
Verity AG, a global autonomous indoor drone company, has announced the successful completion of an additional $11 million investment in its Series B funding round.
With this latest capital raise, Qualcomm Ventures joins a group of backers including A.P. Moller Holding, Exor Ventures, the venture capital arm of Exor (Ferrari, Juventus FC, The Economist), as well as existing investors including Fontinalis Partners, Airbus Ventures, Sony Innovation Fund, ROBO Global Ventures, and Verve Ventures, to support Verity’s mission to provide clients with data-driven intelligence and inventory management solutions powered by self-flying drones.
The Series B capital will enable Verity to scale the delivery of zero-error warehouses and predictable value across a supply chain industry that is increasingly turning to technology to improve crucial operational impediments—labor shortages, lost productivity, inventory errors, and waste, Verity stated. By combining fully autonomous drone technology with advanced data analytics, Verity enables clients to benefit from real-time visibility and precise control over their inventory, driving operational efficiencies, cost savings, and reductions in CO2 emissions, the company added.
Verity has installations acorss 13 countries, with clients spanning retailers, 3PLs, and manufacturers.
“We are thrilled to welcome Qualcomm Ventures as a new investor in Verity,” said Verity Founder and CEO, Raffaello D’Andrea. “Their clear vision of supply chain transformation is perfectly aligned with Verity's mission. Their extensive expertise and global resources make them an ideal partner as we continue to innovate and scale our autonomous inventory management solution. We look forward to leveraging their insights and network.”
“The supply chain of the future is autonomous and automated,” said Boaz Peer, Senior Director, Qualcomm Israel Ltd. and Managing Director of Qualcomm Ventures Israel and Europe. “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.”
Verity's D’Andrea co-founded warehouse automation company Kiva Systems, which was acquired by Amazon in 2012. Based in Zurich, Switzerland, with global operations, Verity’s system is used in warehouses to gather insights that enable greater operational efficiencies.
