Funding round
Exotec Growth
Reported as "Growth Equity"
Exotec, which works in warehouse automation solutions design and integration in Wasquehal, raised $90M in a Growth round announced on 29 Sep 2020, led by 83North. 4 firms took part, 2 of them already investors. It is Exotec's second venture round on record; the one before was a Series B in Jun 2018.
$90M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Exotec did not disclose a valuation in this round. It came 27 months after Exotec's Series B. It is 20% of the $443M Exotec has raised in the venture rounds on record. Exotec raised again 16 months later: a Series D round of $335M in Jan 2022, at $2.00B post-money.
Exotec's funding rounds
Exotec has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
83North led the round with 3 other firms. Iris Capital and Breega had backed Exotec before.
Lead investor
- backs 42 venture-backed companies new investor
Also in the round
- backs 79 venture-backed companies new investor
- Iris Capital existing investor
- backs 45 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 15 Sep 2020 | $52M | $400M | G2 Venture Partners |
| Industrial Machinery & Supplies | 18 Jun 2020 | undisclosed | not disclosed | not named |
| Industrial Machinery & Supplies | 31 Mar 2020 | $25M | not disclosed | G2 Venture Partners |
| Industrial Machinery & Supplies | 17 Mar 2021 | undisclosed | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Exotec raise in its Growth round?
Exotec raised $90M in its Growth round, announced in Sep 2020.
Who led Exotec's Growth round?
83North led it, with Dell Technologies Capital, Iris Capital and Breega.
What was Exotec's valuation at the Growth round?
It was not disclosed.
Did Exotec raise again after this round?
Yes: a Series D round in Jan 2022 of $335M at $2.00B post-money.