Silicon Valley's Latest Unicorn Is Redwood City Robotics Startup

REDWOOD CITY, CA — Dexterity, a Redwood City-based robotics software startup, is the Bay Area’s newest unicorn.

The company announced Wednesday that it raised $140 million in Series B funding on Wednesday, putting the company’s valuation at $1.4 billion.

The latest round of funding doubled the company’s valuation from last year, when it brought in $56.2 million in Series A funding, The Business Journals reported.

Dexterity, founded in 2017, provides services through robots for logistics, warehouses and supply chains and is attempting to delegate repetitive takes like sorting. The company is in the process of deploying its first thousand robots into production, according to a news release.

“Customers in retail, consumer goods manufacturing, and parcel handling need robots to scale quickly in order to manage the ever-increasing volume and variety of packages moving through their distribution centers,” said Samir Menon, Dexterity’s CEO, in a news release. “Dexterity is grateful to be at the forefront of delivering intelligent robotic systems in production across existing customer sites with the goal of rapidly transforming their warehouse operations.”

Over 14 million items have been moved by Dexterity’s robots in the past two years.

Click here to read more in The Business Journals.