Funding round
Exotec Series B
Exotec, which works in warehouse automation solutions design and integration in Wasquehal, raised $18M in a Series B round announced on 12 Jun 2018, led by Iris Capital. 3 firms took part. It is Exotec's first venture round on record.
$18M
Amount raised
15,000,000 EUR converted
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Exotec did not disclose a valuation in this round. It is Exotec's first venture round on record, 3 years after it was founded in 2015. It is 4.0% of the $443M Exotec has raised in the venture rounds on record. Exotec raised again 27 months later: a Growth round of $90M in Sep 2020. Its next priced round, a Series D in Jan 2022, valued it at $2.00B.
Exotec's funding rounds
Exotec has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Iris Capital led the round with 2 other firms.
Lead investor
- Iris Capital new investor
Also in the round
- backs 59 venture-backed companies new investor
- backs 45 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series B rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $21M, and this round was 84% of the median. The closest in time, other companies' Series B rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 18 May 2018 | $21M | not disclosed | SoftBank China Venture Capital and CCV |
| Industrial Machinery & Supplies | 1 Aug 2018 | $20M | not disclosed | Point72 Ventures |
| Geekplus Industrial Machinery & Supplies | 23 Nov 2018 | $150M | not disclosed | Warburg Pincus |
| Industrial Machinery & Supplies | 1 Jan 2018 | $30M | not disclosed | not named |
| Industrial Machinery & Supplies | 17 Dec 2018 | $23M | not disclosed | Menlo Ventures |
| Industrial Machinery & Supplies | 19 Dec 2018 | $21M | not disclosed | John Wu |
| Industrial Machinery & Supplies | 20 Nov 2017 | $25M | not disclosed | Scale Venture Partners |
| Industrial Machinery & Supplies | 17 Jul 2017 | $16M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Exotec raise in its Series B round?
Exotec raised $18M in its Series B round, announced in Jun 2018.
Who led Exotec's Series B round?
Iris Capital led it, with 360 Capital and Breega.
What was Exotec's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Industrial Machinery & Supplies?
9 Series B rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $21M, and this round was 84% of the median.
Did Exotec raise again after this round?
Yes: a Growth round in Sep 2020 of $90M.