Exotec sells more than $1B in warehouse automation worldwide

Exotec's automated storage and retrieval system at customer Ariat.
Exotec’s automated storage and retrieval system at apparel customer Ariat. Source: Exotec

Exotec SAS today announced that it has sold more than $1 billion in systems globally, making it one of the fastest materials handling companies to reach this milestone. Founded in 2015, Exotec said it is continuing to expand its staff reinvest in new technologies, and reach into new markets around the world.

“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,” stated Romain Moulin, co-founder and CEO of 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,” he asserted. “Our continued growth is proof that flexibility and reliable performance are paramount for supply chain leaders everywhere.”

Lille, France-based Exotec said it combines hardware and software to offer warehouse operators increased efficiency, heightened resiliency, and improved working conditions. The company claimed that more than 50 leading brands including Gap Inc., Carrefour, Decathlon, and UNIQLO trust its Skypod systems across over 100 sites and more than 17 million miles worldwide.

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Exotec marks milestones, looks forward

“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.”

Exotec outlined its accomplishments and plans in more detail:

Global expansion: The company recently expanded its presence into new markets including Eastern Europe and South Korea. It also opened a production facility in Croix, France, which supports the continuous development of its product roadmap. Exotec has reported record business growth across key regions like Asia-Pacific, Europe, and North America.

Increased headcount: To help support its growing customer base across the world, Exotec has grown its global headcount 80% over the past year, reaching more than 850 employees globally. It said his is in stark contrast to the rest of the material handling industry, which contracted in 2023.

Reinvesting in R&D: Exotec said it reinvests 10% of its annual revenue in research and development to maintain a competitive pipeline of new systems that address its customers’ most pressing pain points. In 2024, Exotec plans to recruit close to 100 R&D professionals globally.

Written by

Automated Warehouse staff