Exotec Revenue, Valuation, Funding & Investors
Exotec is valued at $2B as of January 2022, a 20.0x multiple on its last reported $100M revenue.
Last Exotec valuation
$2B
Series D · Jan 2022
Last Exotec funding round
$329M
Series D · Jan 2022
Exotec revenue
$100M
Series D · Jan 2022
Key investors in Exotec
360 Capital
BREEGA
IRIS
Dell Technologies Capital
83North
Bpifrance
About Exotec
Exotec is a Lille, France-headquartered robotics firm producing the Skypod goods-to-person system for e-commerce warehouses. Installed in facilities handling up to 1 million picks per day, Skypod deploys fleets of autonomous vehicles on vertical storage racks adaptable to ambient and chilled environments for clients like LVMH and Decathlon.
Founded
2015
HQ
LilleWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales, Subscription
Revenue
$100M (Jan 2022)
Valuation
$2B (Jan 2022)
Exotec Valuation
Exotec is currently valued at $2B, based on its Series D in January 2022.
The $329M round was led by Goldman Sachs Asset Management, with participation from 360 Capital, BREEGA, Bpifrance, IRIS, 83North and 1 other investor.
Exotec valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2022 | Series D | $2B | 20.0x |
Exotec Revenue
Exotec's latest recorded revenue is $100M, as of its Series D in January 2022. At a $2B valuation, that implies a 20.0x revenue multiple.
Exotec revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2022 | $100M | $2B | 20.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Exotec Funding History
Exotec has raised a total of $442M across 5 funding rounds.
Exotec's first fundraising round was a $2M seed round in August 2015. The most recent completed round was a $329M Series D in January 2022.
Exotec funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series D | Goldman Sachs Asset Management (lead); 360 Capital; BREEGA; Bpifrance; IRIS; 83North; Dell Technologies Capital | $329M | $2B | Exotec is a French warehouse robotics company providing scalable automation solutions like the Skypod system, which uses robots reaching up to 36 feet for high-density inventory storage and retrieval, and the Skypicker articulated arm capable of handling 600 items per hour. The company serves major global retailers including Gap, Carrefour, Uniqlo, Decathlon, Cdiscount, and Geodis, with deployments optimizing warehouse space up to the ceiling for efficient order fulfillment. Exotec announced a $335 million Series D funding round on January 17, 2022, led by Goldman Sachs Asset Management's Growth Equity business, with participation from 83North, Dell Technologies Capital, Bpifrance, BREEGA, and IRIS, achieving a $2 billion post-money valuation and becoming France's first industrial unicorn. Total funding raised reached $477 million post-round. The funds are earmarked for international expansion with large-scale deployments in North America, Europe, and Asia, hiring 500 R&D engineers by 2025, and doubling global headcount to over 600 by 2023, with at least 10% of sales directed to R&D. Exotec more than doubled revenue to $100 million in 2021 from 2020, according to Business Insider, with a statement noting tripling in 2022; SiliconAngle reports revenue from 47 million euros in 2020 to an estimated 105 million euros in 2021. The company tripled its customer base since the $90 million Series C in fall 2020, signing over 30 clients including eight large enterprises, and had at least seven systems in use by early 2022 with growing US business. In the competitive warehouse automation market facing supply chain disruptions up 67% year-over-year, Exotec positions itself as an accelerant for business growth amid port congestion and inventory delays. Investors highlighted its global presence, track record with leading brands, proprietary technology, and potential to lead in logistics robotics. |
| Sep 2020 | Series C | 83North (lead); BREEGA; IRIS; Dell Technologies Capital | $90M | - | Exotec, a French robotics company based in Lille, develops the Skypod 3D system, featuring autonomous mobile robots that navigate vertically and horizontally on high-density shelving racks to automate goods picking and replenishment in e-commerce warehouses. The technology enables retailers to increase storage capacity up to five times, recover up to 70% of warehouse real estate, and quadruple productivity by creating robot-only zones with narrow aisles and tall racks up to 36 feet. Clients include major retailers like Carrefour, Leclerc, Cdiscount, and Fast Retailing (Uniqlo), with 1,000 Skypods deployed for the latter and 14 systems running across three continents. On September 29, 2020, Exotec raised $90 million (€76 million) in a Series C funding round led by 83North, with participation from Dell Technologies Capital and existing investors Iris Capital and Breega (also spelled Breega in some sources). The funds support international expansion, including new teams in Atlanta and Tokyo, increased robot production to 4,000 units annually by 2021 from a 6,000 square-meter manufacturing plant in Lille, and hiring for North American and Japanese operations. The company reported revenue doubling in 2020 amid e-commerce growth driven by the pandemic, with new international clients adopting the technology. Exotec operates in the $50 billion warehouse robotics market, addressing flexible automation needs amid rapid changes in logistics from online shopping surges. Founded five years prior to the round, it had previously raised $17.7 million in 2018 and €3.3 million ($3.8 million) in 2016 from investors including 360 Capital Partners. The Skypod system's simplicity—complex robots with standard plastic/steel shelves—facilitates easier installation over fixed automation, targeting B2B and B2C sectors like fashion, grocery, pharmaceuticals, hardware, and manufacturing across the U.S., Europe, and Asia. |
| Jun 2018 | Series B | BREEGA (lead); IRIS (lead); 360 Capital | $18M | - | Exotec Solutions is a French warehouse robotics company that developed the Skypod system, an automated solution using robots capable of reaching heights up to 36 feet to enable high-density inventory storage and retrieval in fulfillment centers. In June 2018, the company raised $17.7 million in Series B funding led by Iris Capital, with participation from existing investors 360 Capital Partners and Breega. The capital was allocated toward building and delivering 1,000 robots by 2019 and expanding global deployment of its warehouse automation solution. Exotec's technology serves e-commerce, grocery, retail, manufacturing, and third-party logistics sectors, with the company demonstrating capability to handle complex logistics software alongside hardware deployment without requiring fulfillment center downtime. |
| Dec 2016 | Series A | 360 Capital (lead); BREEGA (lead) | $4M | - | Exotec Solutions is a French robotics startup that builds collaborative mobile robots called the Exo to assist with warehouse and order preparation tasks. In December 2016, the company raised €3.3 million in funding led by 360 Capital Partners and Breega Capital, along with undisclosed previous investors. The capital was earmarked for enhancing the product and commercial development, with plans to triple staff within six months and open a new engineering office in Lille. The company was preparing to launch the second generation of its product at the Intralogistics Europe trade show in March 2017, featuring enhanced intelligence and preparation capabilities. At the time, industry analysts noted that order preparation logistics represented a market opportunity of approximately $30 billion globally. |
| Aug 2015 | Seed | 360 Capital | $2M | - | - |
Who has invested in Exotec?
7 investors have backed Exotec across its funding rounds, including 360 Capital, BREEGA, IRIS, Dell Technologies Capital, 83North and Bpifrance.
Lead investors include Goldman Sachs Asset Management, 83North, BREEGA, IRIS and 360 Capital.
Exotec Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| France | 4 | Lead | Aug 2015 | |
| Paris | 4 | Lead | Dec 2016 | |
| Paris | 3 | Lead | Jun 2018 | |
 United Kingdom | 2 | Lead | Sep 2020 | |
 San Francisco, CA | 2 | Participant | Sep 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialExotec Competitors
Exotec competitors include listed companies like Harbin Boshi Automation and GuoChuang Software, and private ones like Quicktron Robotics, Vecna Robotics, Semitech and Motive.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Shanghai | Private | - | - | $2.3B | - | |
| China | Publicly listed | $422M | $106M | $1.7B | 3.5x | |
| Boston, MA | Private | - | - | $900M | - | |
| Shanghai | Private | - | - | $870M | - | |
| San Francisco, CA | Private | $600M | - | $1.2B | - | |
| China | Publicly listed | $220M | ($17M) | $960M | - |
Exotec Public Comps
Exotec is still privately-owned, but its public comps include Proto Labs, Glodon Co, ATS, Kardex Holding, Beijing Dahao Technology, Harbin Boshi Automation, Ennoconn, AEM, Beijing Geekplus Tech and Allient.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $533M | $65M | 3.6x | 3.4x | 29.6x | 21.3x | |||
| $909M | $141M | 1.8x | 1.8x | 11.4x | 9.8x | |||
| $2.1B | $260M | 1.3x | 1.3x | 10.6x | 9.6x | |||
| $979M | $83M | 2.1x | 1.9x | 24.5x | 16.4x | |||
| $448M | $138M | 4.9x | - | 15.8x | - | |||
| $422M | $106M | 3.5x | 3.5x | 14.0x | 11.4x | |||
| $4.5B | $475M | 0.7x | 0.6x | 6.9x | 6.5x | |||
| $313M | $37M | 7.1x | 4.9x | 61.1x | 28.1x | |||
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Common questions about Exotec
| When was Exotec founded? | Exotec was founded in 2015. |
| Where is Exotec headquartered? | Exotec is headquartered in Lille, France. |
| Is Exotec publicly listed? | No, Exotec is a private, VC-backed company. |
| What is Exotec's valuation? | Exotec was last valued at $2B in its Series D in January 2022. |
| How much funding has Exotec raised? | Exotec has raised $442M across 5 funding rounds. |
| What was Exotec's last funding round? | Exotec's last funding round was a $329M Series D in January 2022, led by Goldman Sachs Asset Management. |
| Who are Exotec's investors? | Exotec's investors include 360 Capital, BREEGA, IRIS, 83North, Dell Technologies Capital, Bpifrance and Goldman Sachs Asset Management. |
| What is Exotec's revenue? | Exotec's latest recorded revenue is $100M (January 2022). |
| What is Exotec's revenue multiple? | Exotec's latest valuation implies a 20.0x revenue multiple ($2B valuation on $100M of revenue). |
| Which companies are comparable to Exotec? | Companies comparable to Exotec include Quicktron Robotics, Harbin Boshi Automation, Vecna Robotics, Semitech, Motive and GuoChuang Software. |
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