Singapore‐based intelligent warehousing automation company XSQUARE Technologies has bagged SGD10.5 million (US$7.8 million) in Series A funding.
Wavemaker Partners led the round, which also saw participation from SEEDS Capital and Goldbell Corporation.
The fresh funds will be used to accelerate the startup’s regional growth and product development efforts.
Also Read: Revolutionising warehousing: An in-depth conversation with XSQUARE Technologies
“Over the past five years, we have enabled companies to overcome automation fragmentation and achieve complete interoperability across a diverse range of warehouses, factories, and dynamic environments,” said CEO Jens Bohnwagner. “This funding serves as a catalyst for XSQUARE’s growth trajectory, empowering us to scale up our operations, further enhance our technological capabilities, and reinforce our position as a leader in intelligent warehouse solutions.”
Started in 2019, XSQUARE provides intelligent warehouse solutions designed to address critical gaps arising from recurring labour shortages and the urgent need to automate and optimise operations in brownfield and greenfield environments. Its suite of autonomous forklifts and intelligent warehouse orchestrator software simplifies warehouse operations without requiring extensive reconfiguration, thus saving time and costs. It serves clients in a diverse range of industries, from pharmaceuticals to manufacturing.
The firm recently partnered with Mitsubishi Logisnext (ML), one of the world’s largest material handling equipment companies, to collaborate on the development of a new line of Automated Guided Vehicles (AGVs) and the distribution of XSQUARE’s existing products through ML’s global distribution network.
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