MODEX 2024: Exotec reaches $1 billion in systems sold

Exotec, a global warehouse robotics provider, announced at MODEX 2024 that it has sold over $1 billion in systems globally, eclipsing the mark in under a decade.

This achievement, according to the company, illustrates the adoption of the Exotec technology since its founding in 2015 as it continually expands its headcount, reinvests into new offerings and reaches new markets across the world.

Milestone led by adoption of Skypod system

Leading the way to the $1 billion mark is Exotec’s Skypod system. Brands like Gap Inc., Decathlon and UNIQLO have invested in the Skypod system to help weather challenging business fluctuations.

“Reaching the milestone of $1 billion in systems sold globally shows that our approach to warehouse automation is differentiated and strongly resonates with our customers,” said Romain Moulin, CEO and co-founder at Exotec. “We are reinventing an industry that has historically relied on legacy automation that is static to business fluctuations, hard to maintain and expensive to integrate. Our continued growth is proof that flexibility and reliable performance are paramount for supply chain leaders everywhere.”

Some highlights of Exotec’s system growth journey include:

• Global Expansion: The company recently expanded its presence into entirely new markets including Eastern Europe and South Korea. Exotec also opened a production facility in Croix, France which supports the continuous development of its product roadmap. The company has reached over 100 customer sites globally and saw record business growth in the APAC, Europe and North America regions.
• Increased Headcount: To help support its growing customer base across the world, Exotec has grown its global headcount 80% over the past year, expanding to over 800 employees globally.
• Reinvesting in R&D: Exotec heavily reinvests in the research and development of new offerings - 10% of its annual revenue according to the company - to maintain a competitive pipeline of new options that address its customers' pain points.

“Exotec has proven its ability to execute large-scale projects and deliver remarkable value to clients,” said Christian Resch, partner in growth equity at Goldman Sachs Asset Management. “This has enabled the company to expand its footprint, deepen its relationship with large clients and grow revenues. We believe the company is well positioned for future growth given the ongoing need to bring technology and automation to the global warehouse industry.”