Romanian-founded Dexory, a provider of inventory management platform, secures $19M

London-based Dexory, a company that serves warehouses with inventory management data, has secured $19 million in a Series A round of funding led by Atomico. As part of this investment, Atomico Partner Ben Blume will join Dexory’s board of directors.

• Founded in 2015 by Romanians Adrian Negoita, Andrei Danescu, and Oana Andreea Jinga the company provides a DexoryView platform that tracks detailed location of goods, allowing for the quick identification and location of items, accurate information on stock levels and locations, and better decision-making in warehouse operations. Customers can also use DexoryView as a “digital twin” replica of their warehouse to help manage, warehouse performance, and to optimize, simulate, and predict future scenarios. 

“Dexory’s technology that is autonomous, real-time, intuitive, and integrated can have a transformative effect on the everyday efficiency, productivity, and accuracy of a warehouse – and form an integral part of revamping businesses supply chain strategies,”

Andrei Danescu, CEO and co-founder of Dexory commented. 

• Currently, Dexory operates in the UK and Ireland across the logistics and supply chain sectors (air cargo, retail, e-commerce, and manufacturing) with clients such as Menzies Aviation, Denso Manufacturing UK, Huboo, and Maersk. 
• The Series A funding round was led by London-based Atomico that invests in startups at Series A, and has already partnered with over 100 teams. Recently, the firm participated in a $3 million round for Finland’s Varjo. The fresh round also joined by existing investors such as Lakestar, Kindred, Capnamic, and Maersk Growth, the investment arm of the global logistics and container shipping company, Maersk. 
• The startup will use the investment for expansion in the US and Central and Northern Europe markets, with aims to double Dexory’s workforce by the end of 2023, to support unit deployment functions, and increased production. As part of this investment, Atomico’s Partner Ben Blume will join Dexory’s board of directors.