Dexterity, a company that develops intelligent robotic systems for logistics, warehouses, and supply chains, announced that it had raised an additional US$140 million in Series B stock and debt capital.
By heading the Series B, previous investors Lightspeed Venture Partners and Kleiner Perkins significantly increased their commitment to Dexterity, along with participation from Obvious Ventures, B37 Ventures, and Presidio Ventures. As Dexterity’s first thousand robots are placed into production, the fresh funding will be used to support its development.
Dexterity’s intelligent robotics approach has allowed logistics companies to automate some of the most complex warehouse activities without modifying their existing infrastructure. Commodity robots with vision, touch, and contextual intelligence can handle unstructured stacks of commodities with human-like Dexterity and speed, thanks to the company’s robotic software-as-a-service (SaaS) product solutions.
Dexterity’s solutions, in particular, excel at managing the most difficult-to-grasp objects in any warehouse while avoiding the need for costly and cumbersome auxiliary equipment.
Samir Menon, Dexterity’s CEO, said that Customers in retail, consumer goods manufacturing and parcel handling need robots to scale quickly to manage the ever-increasing volume and variety of packages moving through their distribution centers. He added that Dexterity is grateful to be at the forefront of delivering intelligent robotic systems in production across existing customer sites to transform their warehouse operations.
Dexterity made several critical appointments to build out the commercial side of their Stanford-based engineering team, in addition to closing this Series B round. As Vice President of Partnerships, Jason Barton of Realtime Robotics and Rethink Robotics has joined the firm. After working at Quiet Logistics and DHL, Jonathan Briggs came to Dexterity as Vice President of 3PL and Parcel Delivery Sales.
Dexterity is a robotics company that specializes in logistics, and its headquarters is located in Redwood City, California. Their robots have already handled over 50,600 SKUs in a variety of forms, sizes, and materials.