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Dexory, a London-based company, secures $19M funding to expand its ‘digital twin’ warehouse replica globally

Dexory founders
Picture credits: Dexory

Manual processes often still dominate warehouse operations. In addition to this, global companies can have up to as many as 500 different warehouse management systems (WMS) running across thousands of their globally distributed warehouses at any one time. This translates to expensive manual audits. Finding lost inventory takes days due to a lack of interoperability between WMS’, and a unified global view is impossible to achieve.

London-based Dexory addresses the urgent need for improved space utilisation and increased efficiencies in warehouses worldwide. It combines powerful analytics with autonomous robots capable of capturing rich images and sensor data from across a warehouse. 

Ambitious expansion and growth plans

Now, Dexory has grabbed $19 million in Series A funding led by leading European VC firm Atomico (which backed TestGorilla), with participation from existing investors Lakestar, Kindred, Capnamic, and Maersk Growth, the investment arm of the global logistics and container shipping company, Maersk. As part of this investment, Atomico Partner Ben Blume will join Dexory’s board of directors. 

This Series A funding round will be used for international expansion in key markets such as the US, and Central and Northern Europe, with aims to double Dexory’s workforce by the end of the year to support unit deployment functions and increased production. Also, the funds will be used to continue developing Dexory’s forecasting and simulation technology and accelerating the production of its automated robots in its facility in the UK. 

“For an operation as complex and sophisticated as running a modern warehouse, the current lack of an automated way to capture data about the physical space is a major pain point”, said Atomico Partner Ben Blume, “We’re hugely excited by the promise, and market traction, of Dexory’s technology with leading global logistics companies like Maersk and Menzies Aviation. Through creating a digital replica of the warehouse with their advanced robotic data capture technology, they are able to deploy a platform that is not only seamless and intuitive, but provides powerful and actionable insights too.”

“For those operating warehouses, ensuring 100% fulfilment ‘in time, all the time’ is crucial to meeting the demands of the modern consumer. A critical component to achieving this is high stock accuracy, but staff shortages, manual processes, and the speed demanded by customers means that critical decisions across the supply chain are currently being taken blindly,” said Dexory CEO and co-founder Andrei Danescu. “Technology that is autonomous, real-time, intuitive, and integrated can have a transformative effect on the everyday efficiency, productivity, and accuracy of a warehouse – and form an integral part of revamping businesses supply chain strategies”.

DexoryView, a full warehouse scan

Founded in 2015 by school friends from Romania – Adrian Negoita, Andrei Danescu, and Oana Andreea Jinga, Dexory is headquartered in the UK. The founders experience across engineering and tech roles at Formula 1, Google, and IBM. 

Dexory offers a platform called DexoryView, can perform a full warehouse scan in just a matter of hours, around 100x faster than humans, giving customers an immediate view of the core hub in their supply chain. This gives customers enhanced inventory visibility, with DexoryView’s dashboard tracking the detailed location of goods, allowing for the quick identification and location of items, accurate information on stock levels and locations, and better decision-making in warehouse operations. 

DexoryView is considered a ‘digital twin’ replica of their warehouse. It is used to manage and get the most out of warehouse performance, allowing for the software to optimise, simulate and predict future scenarios. All of this frees up human workers to focus on more complex activities, leading to improved productivity, better resource allocation, and the ability to handle higher-order volumes efficiently.

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