Goldman Sachs Invests In French Robotics Firm Exotec

French warehouse robotics company, Exotec said on Monday that it has raised $335 million in a series D round of funding at a $2 billion valuation, led by the Growth Equity business of Goldman Sachs Asset Management, a division of the Goldman Sachs Group, Inc (GS), to improve supply chain resilience for global retailers.

Exotec said it will leverage the funds to move ahead with its mission to launch large-scale deployments in North America, Europe, and Asia for global brands. In addition, it also plans to hire 500 new R&D engineers by 2025 to accelerate the development of its high-performance warehouse automation technology.

83North and Dell Technologies Capital were also participated in the funding round.

Exotec doubled its revenue and tripled its customer base since closing its $90 million series C funding round in the fall of 2020.

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