Verity receives new funding of US$32 million

Verity AG has raised US$32 million in its latest funding round. The company operating worldwide can now accelerate the rollout of its autonomous inventory drone system. This solution enables automated inventory checks in warehouses.

A Verity drone at work in the IKEA warehouse.
A Verity drone at work in the IKEA warehouse. Image credit: IKEA

Verity AG from Zurich has concluded its Series B funding, successfully raising US$32 million. The investment round was led by A.P. Moller Holding, with participation from Exor Ventures and existing and new investors. The fully automated inventory drone system is “popular with customers and is generations ahead of competitors”, said Chetan Mehta, Head of Growth Investing at A.P. Moller Holding, in a press release from Verity. “We believe the company is poised for significant further expansion in the years ahead.”

According to the company, the new round of funding “comes at a time of significant momentum”. In response to increased demand, the company is expanding into international markets and is actively recruiting across the organization. Verity now plans to quickly scale up operations to address the growing backlog of deployments with autonomous done systems.  They are currently already installed in 30 sites across 13 countries on 3 continents.

The Verity system offers a proven, automated solution to the more than 150,000 warehouses worldwide that still rely on manual inventory checks. It allows third-party logistics providers, retailers and manufacturers to fully automate the manual scanning process using self-flying warehouse drones that require no operator and can fly in the dark.

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