DexrayA company that uses artificial intelligence software and autonomous robots to provide warehouses with real-time inventory management data has raised $19 million in a Series A round led by European VC Atomico.
Dexory was founded in London in 2015 and its products can be divided into two parts. On the hardware side, the company has developed sensors and cameras filled with robots that can capture data as it moves through a specific warehouse and continuously take photos of shelves as they move at a speed similar to normal walking (eg, half a meter per second). The robot captures a 3D scan of the site, which provides insight into things like size, shape and size, and the number of items on shelves.
Dexory then uses computer vision and machine learning to process the captured data while linking it to the physical location of the stock, but within a digital twin, a fully virtual equivalent of its real-world counterpart.
“The robots can be deployed multiple times a day or once a day based on a shift pattern, including overnight deployments,” Dexory co-founder and CEO Andrei Danescu told TechCrunch via email. Insights from the data collected within the warehouse can be analyzed to identify issues in the field and make decisions to improve warehouse operational efficiency.”
Dexory says its customers use its platform for any number of use cases, such as conducting autonomous inventory checks throughout the day, reducing the need for labor-intensive manual inventory counts. This also helps with common warehouse challenges such as identifying misplaced pallets or other AWOL shipments.
Instinctively, this will never be the perfect solution for all situations, as it is certainly impossible to see every item on the shelf, especially if they are stacked in rows or located high on the shelf. But Danescu believes it will go a long way toward solving at least some of the stock-checking problem.
“If the goods are put together one after the other, the solution may not be able to identify exactly what the goods are – not having a readable label of course means no identification,” Danescu said. “But thanks to 3D scanning, it will let the operator know something The else is there, and showing them a picture of what that is, solves more than 80% of the problem. “
Also, inventory checks are not what the Dexory platform is all about. It can also be used to keep an eye on space optimization, such as where there may be large gaps but nothing. Or it could be used to predict capacity, or even as part of a company’s safety regulation compliance workflow, spotting any dangerous situations that arise.
While countless robotics companies have infiltrated retail with similar intelligence, including the likes of Bossa Nova, Simbe and Zippedi, Danescu says they are setting out to differentiate themselves by focusing on larger warehouse-style environments rather than robotics. Focus on large warehouse-style environments. Compared to retail stores, its robots can scan up to 15 meters (50 feet) in height with physical extensions.
“We have new solutions on our roadmap that could go beyond that (19-20 million+), but that’s only 2-3% of the market,” Danescu said.
Currently, Dexory operates in the UK and Ireland in logistics and supply chain; air cargo; retail and e-commerce; and manufacturing, with clients including Menzies Aviation; UK Denso Manufacturing, Huboo and Maersk. In fact, today’s news comes a week after Maersk’s reveal. extend Partnering with Dexory to build more warehouses in the UK and Ireland region Initial proof-of-concept partnership Back in January, shortly after Dexory took office Rebranded by BotsAndUs.
With the fresh cash infusion, Dexory has now raised a total of $37.9 million in funding across funding rounds and plans to expand its platform to new markets including the US, Germany and the Netherlands.
In addition to lead investor Atomico, Dexory’s Series A round also included participation from early Facebook and Spotify investor Lakestar; Maersk Growth, the investment arm of Danish shipping and logistics giant (also a Dexory client) Maersk; and London-based Early Ventures Invest in Kindred Capital.