Dexterity, a Redwood City, CA – based creator of intelligent robotic systems for logistics, warehouses, and supply chain, raised an additional US$140M in Series B equity funding and debt.
Major existing investors Lightspeed Venture Partners and Kleiner Perkins lead the Series B round, which raised total capitalization to over US$200m at a valuation of US$1.4 billion, with additional participation from Obvious Ventures, B37 Ventures and Presidio Ventures.
The company will use the new capital for growth as its first thousand robots are deployed into production.
Led by Samir Menon, CEO, Dexterity creates intelligent robotic solutions for logistics, warehouses, and supply chain customers. The company’s robotic software-as-a-service (SaaS) products equip robots with the vision, touch, and human-like skill and speed to handle unstructured piles of goods and solve labor shortages by delegating repetitive tasks – such as sortation, palletizing and fulfillment – so employees can focus on cognitive work.
The company’s robotic systems have handled 50,000+ SKUs ranging from loosely packed deformable polybags, to delicate hot-dog buns, to floppy tortillas, to poorly sealed cardboard boxes, to bags of earthworms, to trays and crates of consumer food, to even a molten birthday cake.
In addition to closing this Series B round, Dexterity made a series of key hires including:
- Jason Barton from Realtime Robotics and Rethink Robotics, who joined the company as Vice President of Partnerships
- Jonathan Briggs, who joined Dexterity as Vice President of 3PL and Parcel Delivery Sales after years at both Quiet Logistics and DHL
- Michael Perry as its first Vice President of Marketing who joined from Boston Dynamics and DJI,
- Cliff Kalinowski as Head of Service Operations from Mainspring Energy, Andrew Heck as Head of Strategic Finance from Morgan Stanley, and
- Sumit Chopra as Head of Software Support from Cisco and Amazon Web Services.
The company is currently working with customers across North America and Japan.
FinSMEs
14/10/2021