Revolutionizing Warehouse Inventory Management with AI and Robots

When it comes to warehouse operations, one of the biggest challenges is ensuring accurate and efficient inventory management. In a fast-paced environment, where products are constantly moving in and out, keeping track of every item can be a daunting task. To address this issue, Dexory, a London-based company, has developed an innovative solution that combines AI software and autonomous robots to provide real-time inventory management data to warehouses. Recently, the company raised $19 million in a Series A funding round led by European VC Atomico, solidifying its position as a key player in the industry.

The Two Sides of Dexory’s Product

Dexory’s product can be divided into two segments: hardware and software. On the hardware side, the company develops advanced robots equipped with sensors and cameras that capture data as they navigate through the warehouse. These robots take continuous photos of the shelves at a speed similar to that of a normal walk and capture 3D scans of the site. These scans provide valuable information about the dimensions, shapes, sizes, and volumes of products on the shelves.

Once the data is captured, Dexory uses computer vision and machine learning algorithms to process it. The software links the captured data to the physical location of the stock within a digital twin, which is a virtual replica of the warehouse. This integration of physical and digital data allows for seamless inventory management and analysis.

The Benefits of Dexory’s Solution

The use of AI software and autonomous robots in warehouse inventory management offers several significant benefits:

• Real-time Data Insights: Dexory’s robots can be deployed multiple times a day or even overnight, gathering data insights continuously. This allows warehouse operators to identify problems on the ground quickly and make informed decisions to improve operational efficiency.
• Labor Reduction: Dexory’s platform reduces the need for labor-intensive manual inventory checks throughout the day. The robots can autonomously perform stock checks, saving time and resources for warehouse staff.
• Error Detection: By capturing continuous photos and 3D scans of the shelves, Dexory’s solution can help identify misplaced pallets or missing products. This reduces the risk of stock loss or inventory discrepancies.
• Space Optimization: Dexory’s platform can also be used to optimize warehouse space. By identifying large empty spaces within the warehouse, it enables operators to make better use of the available area and potentially increase storage capacity.
• Capacity Forecasting: With the ability to gather and analyze real-time inventory data, Dexory’s solution can assist in capacity forecasting. By accurately predicting future demand and storage requirements, warehouse operators can plan their operations more effectively.
• Security Compliance: Dexory’s AI-powered robots can also contribute to a company’s security compliance workflow. By detecting any dangerous situations that arise, such as unauthorized access or potential hazards, the platform enhances warehouse safety.

Dexory’s Differentiation and Market Expansion

While there are several robotics companies operating in the retail sector, Dexory aims to differentiate itself by focusing on larger warehouse-style environments rather than retail stores. The company’s robots are capable of scanning up to 50 feet (15 meters) high, allowing for efficient inventory management in warehouses with physical expansion.

Dexory’s clients span across various industries, including logistics and supply chain, air cargo, retail and e-commerce, and manufacturing. Some of its notable clients include Menzies Aviation, Denso Manufacturing UK, Huboo, and Maersk.

Achieving Global Scale

With the recent Series A funding round, Dexory has raised a total of $37.9 million, which will be used to scale its platform into new markets. The company plans to expand its presence in the United States, Germany, and the Netherlands, targeting a broader customer base and establishing itself as a global leader in warehouse inventory management.

Conclusion

Dexory’s innovative combination of AI software and autonomous robots revolutionizes warehouse inventory management by providing real-time data insights and streamlining operations. With its advanced technology and focus on larger warehouse environments, Dexory is poised to make a significant impact in the industry. As the company expands its platform into new markets, it is set to reshape the future of warehouse inventory management worldwide.

Dexory, a London-based company, has raised $19 million in a Series A funding round led by European VC Atomico. The company offers a unique solution for warehouse inventory management, combining AI software and autonomous robots. Dexory’s robots capture continuous photos and 3D scans of the shelves, providing real-time data insights. The captured data is processed using computer vision and machine learning algorithms, enabling seamless inventory management and analysis. Dexory’s platform offers benefits such as real-time data insights, labor reduction, error detection, space optimization, capacity forecasting, and security compliance. The company differentiates itself by focusing on larger warehouse-style environments. With the recent funding, Dexory plans to expand into new markets, including the United States, Germany, and the Netherlands.

DexoryA company that services warehouses with real-time inventory management data using AI software and autonomous robots, has raised $19 million in a Series A funding round led by European VC Atomico.

Founded in London in 2015, Dexory’s product can be divided into two segments. On the hardware side, the company develops robots packed with sensors and cameras to capture data as they traverse a particular warehouse, taking continuous photos of the shelves as they move at a speed similar to that of a normal walk (for example, half meter/second). The robots capture 3D scans of the site, which can provide information about things like dimensions, shapes and sizes, and volumes of products on the shelves.

Dexory then uses computer vision and machine learning to process the captured data, while linking it to the physical location of the stock but within a digital twin – that is, a complete virtual equivalent of its real-world counterpart.

“Robots can be deployed multiple times a day or once a day based on their shift patterns, even overnight,” Dexory co-founder and CEO Andrei Danescu told TechCrunch via email. “Gathering data insights in a short space of time, all the time, enables analysis to identify problems on the ground and decision-making to drive warehouse operational efficiency.”

Dexory says its clients use its platform for any number of use cases, such as performing autonomous stock checks throughout the day, reducing the need for labor-intensive manual inventory. This can also be helpful in solving some of the common warehouse pain points, such as identifying misplaced pallets or other products that have been lost without permission.

Instinctively though, this will never be a perfect solution in all scenarios, as it surely isn’t possible to see every item on a shelf, especially if they’re stacked in rows or located high on the shelves. But Danescu believes it will go a long way toward solving at least some of the stock control problems.

“If the products are one after the other, the solution may not be able to identify exactly what the products are; of course, if there is no label to read, there is nothing to identify,” Danescu said. “But because of the 3D scans, it will let the operators know that something more is there, and show them a picture of what that is, solving more than 80% of the problem.”

Also, stock controls are not the whole purpose of the Dexory platform. It could also be used to control space optimization, for example where there may be large empty spaces. Or it could be used for capacity forecasting, or even as part of a company’s security compliance workflow, where it can detect any dangerous situations that arise.

While there are countless robotics companies already infiltrating the retail sphere with similar savvy, including the likes of bossa nova, Simbeand zippedDanescu says they aim to differentiate themselves from the pack through their focus on larger warehouse-style environments, rather than retail stores: Their robots can scan up to 50 feet (15 meters) high through physical expansion.

“We have new solutions on the roadmap to go further (more than 19-20m), but that’s only 2-3% of the market,” Danescu said.

Climbing

For now, Dexory operates in the UK and Ireland in the logistics and supply chain sectors; air cargo; retail and e-commerce; and manufacturing, with clients including Menzies Aviation; Denso Manufacturing UK, Huboo and Maersk. In fact, today’s news comes a week after Maersk revealed that it was extension its partnership with Dexory to include more stores in the UK and Ireland area, after entering into a initial proof-of-concept partnership in January, shortly after Dexory had renamed from BotsAndUs.

With its new cash injection, Dexory has now raised a total of $37.9 million across its various rounds, and plans to scale its platform into new markets, including the US, Germany, and the Netherlands.

In addition to lead investor Atomico, Dexory’s Series A round included participation from Facebook and Spotify early investors Lakestar; Maersk Growth, the investment arm of Danish transport and logistics giant (and Dexory client) Maersk; and London-based early-stage VC Kindred Capital.