Exotec, a global warehouse robotics provider, recently announced that it has sold more than $1 billion in systems globally.
The company was founded in 2015 and has worked to invest in new solutions and reach new markets.
Annually, the company invests 10 percent of annual revenue in the research and development with the goal of maintaining a competitive pipeline of innovations that address customers’ needs.
The company has more than 100 customer sites globally, and has experienced record business growth in key regions. It recently opened a production facility in Croix, France, and expanded its presence into new markets such as Eastern Europe and South Korea.
“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,” Romain Moulin, Exotec CEO and co-founder, said. “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.”
Over the past year, the company increased the number of employees globally by 80 percent, reaching more than 850.