US-based warehouse robotics technology developer Dexterity secured $140m on Wednesday in a series B round featuring Presidio Ventures, a corporate venturing subsidiary of diversified conglomerate Sumitomo, at a valuation of $1.4bn.
The equity and debt round was co-led by Lightspeed Venture Partners and Kleiner Perkins, with backing from Obvious Ventures and B37 Ventures.
Dexterity designs and manufactures robots for logistics, warehouses and supply chain customers, enabling them to automate some of the most complicated tasks in a warehouse without needing to modify their existing infrastructure.
The company’s robots are equipped with vision, touch and contextual intelligence to handle unstructured piles of goods. They can be used in fulfilment, sortation, palletising and singulation.
The financing will be used to boost Dexterity’s growth and accelerate the deployment of its first thousand robots. It took the total raised by the company to over $200m to date.
Dexterity emerged from stealth in July 2020 with $56.2m in equity and debt financing from investors including Presidio Ventures.
Financial services firm Pacific West Bank also took part in the round, alongside Liquid 2 Ventures, Kleiner Perkins, B37 Ventures, Lightspeed Venture Partners, Obvious Ventures, Stanford StartX Fund and Blackhorn Ventures.