Logistics automation is revolutionising supply chain management with the integration of artificial intelligence and robotics. This includes using automated warehouses where robots handle picking and packing, AI-driven route optimization for delivery vehicles, and real-time inventory management to ensure accuracy and efficiency. Dexory is a real-time data intelligence and integrated robotics platform designed to optimise inventory management and warehouse efficiency. By offering a 360-degree view of warehouse operations, Dexory’s integrated hardware and software ecosystem significantly reduces operational expenses, accelerates delivery timelines, and fortifies supply chain resilience. The platform achieves these improvements by minimizing errors and losses while maintaining high levels of accuracy. Customers have reported annual revenue recoveries of up to £1M and a 10x ROI within the first year of implementation.
London TechWatch caught up with Dexory CEO and Cofounder Andrei Danescu to learn more about the business, the company’s strategic plans, latest round of funding, which brings the company’s total funding to $118M, and much, much more…
Who were your investors and how much did you raise?
We have raised $80M in Series B funding. The round was led by DTCP, with participation from Latitude Ventures, Wave-X, and Bootstrap Europe, along with existing investors Atomico, Lakestar, Capnamic and several angels from the logistics industry.
Tell us about your product or service.
We capture real-time insights into warehouse operations using fully autonomous robots and Artificial Intelligence. Using autonomous technology to unlock data and drive insights through all levels of business operations, helping companies boost their performance and unlock their full potential. Instant access to real-time data helps optimise the present, de-risk the future and discover the intractable in each location and at every stage of the product journey through the warehouse and onto dispatch.
Introduced to the market in 2023, the DexoryView solution combines robotics, digital twin and AI technologies to understand, analyse and operate end-to-end warehouse operations, offering unprecedented time to value. For businesses that need to thrive in increasingly complex and competitive markets, DexoryView is the solution for warehouse and supply chain operators to gain full visibility of their operations.
What inspired the start of Dexory?
Prior to entering the warehouse automation market, we had developed robotics solutions for retail settings to carry out stock takes on the shop floor. During the COVID-19 pandemic we received a lot of interest from our existing customers, who were asking if it would be possible to use the technology in the warehouse setting.
This led us to explore the market more and we realised that there was a gap in the market for a solution that streamlines tasks such as inventory accuracy. However, when we first started to develop the technology, we understood that there was a lot more data that we could capture from the warehouse, taking our solution beyond just ensuring inventory accuracy. We can now cover multiple types of storage configuration (racking, block stack, goods on the floor, etc), get granular on picking location, checking volumes and counts at unit level. Then use this information to suggest optimisation scenarios across space, people movement and flow of goods, all for more efficient operations.
How is it different?
DexoryView is the only solution in the market that is able to operate around existing warehouse processes, people and other machinery. The solution does not need any changes to the warehouse layout to be operational.
We are also able to provide a wealth of actionable insights from the warehouse that delivers true ROI to our customers and helps them really optimise the way they run and operate their warehouses.
Our other differentiator is the technology. We have developed the world’s tallest autonomous mobile robot that extends to a height of 12 metres, combined with a visual digital twin software platform of the entire warehouse.
What market are you targeting and how big is it?
Our solution is applicable for third party logistics providers (3PLs), as well as businesses that operate their own warehouses or supply chain operations. We have customers in the 3PL space, manufacturing, automotive, eCommerce and aviation.
There is a huge market opportunity for warehouse automation and digital twin technologies, with some analysts predicting that the automation market will be worth $90B globally, with the digital twin market representing revenue forecast of $155.83B by 2030.
What’s your business model?
We provide a combination of Robotics as a Service (RaaS) and SaaS model. Our customers pay a monthly subscription fee, as is the case with most SaaS based businesses. This includes the robot, access to the digital twin platform and deployment of the technology, including remote monitoring and servicing.
What factors about your business led your investors to write the cheque?
As a full-stack technology company we demonstrated defensibility. Our tech stack (software, autonomy, robotics engineering etc) is completely proprietary, giving us the opportunity to create the best technology for this industry. We’ve also proven the ability to own the entire value-chain from design, to production, customer deployment and after sales support.
The commercial traction has greatly reduced the risk profile from a business perspective. We have a wide range of customers converting at record speed, driving both a strong top-line growth and healthy unit economics.
This traction is in line with a huge appetite of the sector to embrace automation and AI as concepts have turned into reliable products with incredible value at scale. Being a fast to deploy, quick to get value solution makes us more the obvious choice for both those starting their automation journey as well as those adding to their current stack.
What are the milestones you plan to achieve in the next six months?
Our mission has always been to provide a true digital twin of warehouses. Our long term objective is to evolve DexoryView into a must have platform to orchestrate and optimise warehouses. Combining the sheer volume of proprietary data we collect with AI technology and with a deeper understanding of our customers, we are able to tap into new functionality that supercharges their existing performance – so they can serve their own customers better, faster and yet at a lower cost.
Our mission has always been to provide a true digital twin of warehouses. Our long term objective is to evolve DexoryView into a must have platform to orchestrate and optimise warehouses. Combining the sheer volume of proprietary data we collect with AI technology and with a deeper understanding of our customers, we are able to tap into new functionality that supercharges their existing performance – so they can serve their own customers better, faster and yet at a lower cost.
To support this, our data collection technology – our robots – will be able to capture an even broader range of information from warehouses (equipped with enhanced perception capabilities) seamlessly navigating busy sites at all times. This will be fed into our AI pipeline to extract even more insights about the goods, racking, space, movements and mathematically orchestrate the use of all resources. Overlaying these onto our highly interactive and intuitive cloud platform will allow our customers to find and test opportunities that bring even more tangible revenue uplift – not just at a warehouse level but across their supply chain.
What advice can you offer companies in London that do not have a fresh injection of capital in the bank?
As a full stack tech company, we have found the investors who really understand this space care about three things: defensibility, time to value and market potential. You will need to be able to demonstrate that you have a product that is delivering ROI to the market and is addressing a need in the industry you are operating in.
Aside from this it is important to ensure that you are demonstrating operational rigour in your business and processes to ensure that you are able to deliver your product and/or service to the market.
Where do you see the company going now over the near term?
We are looking to expand our global presence. We have recently announced that we are opening our North American headquarters in Nashville, Tennessee. We see that the North American market is going to be one of the fastest growing markets for us in the next 12 months with fast decisions and adoption rates. The focus is to grow our already existing team in the region that will allow us to maximise our operations, deploy our solutions faster and host our prospective customers for demos and workshops.
Outside of the North American market, we are expanding our market presence across Europe and the Middle-East markets and engage in expanding existing customer deployments across these regions.
Our ambition is to grow Dexory into a multi-unicorn business that truly transforms the way the warehousing and supply chain industries operate.
