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Verity receives additional investment of 11 million dollars

Verity has extended the funding round that was announced in March by 11 million dollars, bringing the new total to 43 million dollars. The new investor is Qualcomm Ventures. It will now be possible to speed up delivery of Verity’s inventory drones for automated checks in warehouses.

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

Zurich-based Verity AG has gained a new investor in Qualcomm Ventures from San Diego, and increased the 32 million dollar Series B funding round that was initially completed in March this year. According to a press release, the increase of 11 million dollars brings the total volume to 43 million dollars. This round was led by A.P. Moller Holding, with participation from Exor Ventures and both existing and new investors.

“We are thrilled to welcome Qualcomm Ventures as a new investor in Verity,” said Verity founder and CEO Raffaello D’Andrea. “Their clear vision of supply chain transformation is perfectly aligned with Verity’s mission.” He added that their extensive expertise and global resources make them “an ideal partner as we continue to innovate and scale our autonomous inventory management solution.”

“The supply chain of the future is autonomous and automated,” said Boaz Peer, Managing Director of Qualcomm Ventures Israel and Europe. “Verity’s self-flying drone technology and advanced warehouse inventory analytics are helping transform supply chains by enabling end-to-end, real-time visibility.”

Verity drone systems are already in use at 30 locations in 13 countries on three different continents. According to the manufacturer, the Verity system offers an automated solution for over 150,000 warehouses worldwide that still rely on manual inventory checks. It enables logistics service providers, retailers and manufacturers to fully automate this manual scanning process with self-flying warehouse drones.  

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