SoatDev IT Consulting
SoatDev IT Consulting
  • About us
  • Expertise
  • Services
  • How it works
  • Contact Us
  • News
  • July 11, 2023
  • Rss Fetcher

Seems were in the middle of drone delivery summer. A few weeks back, Gather AI snapped up competitor, Ware, following an executive shake and soon after, San Jose-based B Garage brought in a $20 million Series A.

Today, Swiss startup Verity announced that it’s adding $11 million in funding. The addition is an extension of a $32 million Series B announced back in March, bringing the round’s full raise up to $43 million. The company is no doubt riding high atop a category-wide buzz, helped along by an Ikea partnership that brought 100 of its drones to 16 of the furniture giant’s European warehouses.

Verity notes that its drones have been deployed in 13 countries thus far, but otherwise hasn’t offered many specifics in terms of deployment metrics. The addressable market is huge of course. When you factor in third-party logistics firms, retailers and manufacturers, you’ve got countless shelves that need to be inventoried.

A number of companies including Simbe and Bossa Nova have focused on front-of-store shelf scanning. The size, scope and height of warehouse shelves, however, presents a unique set of challenge. London-based Dexory offers a fairly unique solution. The wheeled robot sports a extending scaffolding system to hit those hard to reach shelves.

In a lot of ways, drones are uniquely qualified for the job. They’re small, nimble and can hit even the highest shelves. It’s a logical tool for the job, so it tracks that so many startups have flooded the nascent space that also includes Y Combinator-backed Corvus. The secret sauce, so to speak, are systems that allow drones to fly indoors and avoid collisions with limited connectivity.

Verity’s latest round was led by A.P. Moller Holding and notably features Qualcomm Ventures.

“The supply chain of the future is autonomous and automated,” says Qualcomm Ventures’ Boaz Peer. “Verity’s self-flying drone technology and advanced warehouse inventory analytics are helping transform supply chains by enabling end-to-end, real-time visibility. We’re excited to invest in Verity as it scales its operations internationally.”

Certainly Qualcomm has a personal interest in the world of supply chains and logistics, which have been clouded by uncertainty for the last several years. Labor shortages have also fueled interest in automation across the industry, and few aspects of that world are a better candidate to be automated than inventory.

A number of startups I’ve spoken to in the drone inventory world suggest that scaling has been an issue, with a backlog of potential clients. Accordingly, Verity says this round will go toward scaling and go to market for its solution.

Verity brings in another $11M for its inventory drones by Brian Heater originally published on TechCrunch

Previous Post
Next Post

Recent Posts

  • Jony Ive’s LoveFrom helped design Rivian’s first electric bike
  • Genetics testing startup Nucleus Genomics criticized for its embryo product: ‘Makes me so nauseous’
  • EleutherAI releases massive AI training dataset of licensed and open domain text
  • Why our partnership with Go1 is a game-changer for skills development
  • X names Polymarket as its official prediction market partner

Categories

  • Industry News
  • Programming
  • RSS Fetched Articles
  • Uncategorized

Archives

  • June 2025
  • May 2025
  • April 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023

Tap into the power of Microservices, MVC Architecture, Cloud, Containers, UML, and Scrum methodologies to bolster your project planning, execution, and application development processes.

Solutions

  • IT Consultation
  • Agile Transformation
  • Software Development
  • DevOps & CI/CD

Regions Covered

  • Montreal
  • New York
  • Paris
  • Mauritius
  • Abidjan
  • Dakar

Subscribe to Newsletter

Join our monthly newsletter subscribers to get the latest news and insights.

© Copyright 2023. All Rights Reserved by Soatdev IT Consulting Inc.