Have you heard of Exotec, France's first industrial unicorn? With its logistics robots, this Hauts-de-France unicorn enables e-commerce giants to accelerate and facilitate order preparation. Thanks to its latest fund-raising round of $335 million, Exotec's valuation now stands at $2 billion!
The creation of Exotec
In 2015, mechanical specialist Romain Moulin teamed up with fellow computer scientist Renaud Heitz to develop a new solution for automating warehouses. The result was Skypods, small robots that can pick up goods from heights of up to 12 meters, and prepare orders in logistics warehouses. It is to these robots that Exotec owes its success.
Very soon after its creation, Exotec struck hard by equipping Cdiscount with its robots. The offer was revolutionary and quickly won over customers. Major players such as Decathlon, Uniqlo in Japan and Gap in the United States followed Cdiscount's lead and called on Exotec to equip themselves with its robots.
Today, the Tricolor unicorn counts e-commerce, retail and food retail giants such as Showroomprivée, Leclerc and Carrefour among its customers.
France's first industrial unicorn
Exotec is France's first industrial unicorn. Unlike fintech unicorns, industrial unicorns have a much harder time securing financing. And yet, the unicorn is seductive! The need for logistics automation has become significant, fueled by the explosion in e-commerce, itself boosted by the health crisis.
The unicorn's sales explode: 700,000 euros in 2017, 7 million in 2018, 20 million in 2019 and then... 150 million in 2022! These figures speak volumes about Exotec's growth. But the company isn't stopping there, and is thinking big! Its latest fundraising round, in January 2022, raised $335 million, giving it a valuation of $2 billion!
Massive recruitment in sight
It's hardly surprising that Exotec's flagship product, the Skypod robot, has won unanimous acclaim. It not only enables companies to operate faster, but also to rationalize and densify storage in their warehouses.
To meet growing demand and ensure its future development, Exotec is planning a policy of massive recruitment. By 2023, the unicorn, which currently employs 420 people, aims to double its workforce. This should enable the company to scale up further and compete directly with the giant Amazon.
Exotec: Key facts
Number of employees to date
By 2022, the industrial unicorn will have 420 employees.
Sales figures
In just a few years, Exotec's sales have exploded. In 2019, the French unicorn posted sales of €20 million, compared with €150 million in 2022!
Going public
Exotec is not listed on the stock exchange, and according to Romain Moulin, CEO and co-founder, "there are no plans for an IPO".
Scalability
Exotec's evolutionary approach, with the constant development of new robots and adaptation to changing needs, enables it to adapt not only to various industrial sectors, but also to foreign markets. Very soon after its creation, Exotec entered the Japanese market, then the American one, and expanded into Central Europe.
Mantra/Citation CEO
"Logistics robotics is a sector of the future, and we know it now. New competitors are appearing, and traditional logistics players also want to get in on the act. It's crucial for us to continue to expand rapidly and internationally to make our mark" - Romain Moulin, CEO and co-founder of Exotec. Romain Moulin, CEO and co-founder of Exotec.
