The warehouse robot developer’s latest round has pushed its total funding past the $200m mark since being founded out of Stanford in 2017.

Dexterity, a US-based warehouse robotics technology developer spun out of Stanford University, has secured $140m 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. Founded in 2017, 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 Stanford-aligned Stanford-StartX Fund, Presidio Ventures, Pacific West Bank, Liquid 2 Ventures, Kleiner Perkins, B37 Ventures, Lightspeed, Obvious Ventures and Blackhorn Ventures. – A version of this article first appeared on our sister site, Global Corporate Venturing.

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