Dexterity is a robotics and tech startup that designs unique and scalable devices and software to help logistics warehouses run more efficiently. The company recently raised new Series B funding to help rapidly expand its business to meet the growing demand and to deploy its robots into service.
How Dexterity Works and Growing Demand for Its Product
Robotics and tech startup Dexterity creates a fully automated solution for logistics businesses based on each companies’ particular needs. The company installs specialized automation equipment before deploying the robots that will best work in the warehouse space.
The tech startup has a number of different intelligent robots that are equipped with vision capabilities and touch sensors to ensure it understands and handles products being processed with accuracy. The touch sensors are calibrated to be sensitive enough to handle food products and soft packaging while also having the strength to lift larger boxes without issue.
The intelligent robots built by the company are then easily managed and overseen through the use of the Dexterity workflow software that helps to prevent mistakes or errors. The robotics startup also offers 24/7 tech support so business owners using its devices will not need in-house engineers or IT departments.
The company has proven to be successful in application so far, with its fleet of robots seeing significant success on the warehouse floor. The intelligent robots have moved over 14 million products since initial deployment, saving business owners time and money. Additionally, Dexterity has witnessed significant business demand since launching its robotics services. To date, the tech startup has spent all of its current resources on scaling up robot production.
The robotics company has generated interest from a number of investors who see business potential in the robot applications on a wide-scale use for larger logistics companies.
Dexterity Funding Round and Plans for Expansion
In its Series B funding round, Dexterity raised $140 million in equity and debt. The funding round was led by Lightspeed Venture Partners and Kleiner Perkins with participation from Obvious Ventures, B37 Ventures, and Presidio Ventures. The new funding has raised the public valuation of the tech startup to $1.4 billion. The company has now raised over $200 million.
Dexterity plans to use the new funding to support the deployment of 1,000 new robots into service. Additionally, the tech startup will use the new funding to help grow its own business by hiring new executives and employees to handle demand. Jason Barton will join Dexterity as Vice President of Partnerships. Jonathan Briggs and Michael Perry will also join the company as the Vice President of 3PL and Parcel Delivery Sales and Vice President of Marketing, respectively.
When commenting on the latest funding round, CEO of Dexterity Samir Menon said, “Customers in retail, consumer goods manufacturing, and parcel handling need robots to scale quickly in order to manage the ever-increasing volume and variety of packages moving through their distribution centers. Dexterity is grateful to be at the forefront of delivering intelligent robotic systems in production across existing customer sites with the goal of rapidly transforming their warehouse operations.”
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.