Verity extends oversubscribed Series B round to include Qualcomm Ventures, bringing total round to $43M
A.P. Moller Holding led the funding round, with participation from Qualcomm Ventures, Exor Ventures and existing and new investors. This extension completes the $32M Series B round that was previously announced in March this year.
Zürich, July 11, 2023—Verity AG (Verity), the world’s leading autonomous indoor drone company, is pleased to announce the successful completion of an additional $11M investment in its Series B funding round. With this latest capital raise, Qualcomm Ventures joins a distinguished group of backers including A.P. Moller Holding, Exor Ventures, the venture capital arm of Exor (Ferrari, Juventus FC, The Economist), as well as existing investors including Fontinalis Partners, Airbus Ventures, Sony Innovation Fund, ROBO Global Ventures and Verve Ventures, to support Verity’s mission and rapid growth to provide its clients with data-driven intelligence and inventory management solutions powered by self-flying drones.
The Series B capital will enable Verity to scale the delivery of zero-error warehouses and predictable value across a supply chain industry that is increasingly turning to technology to improve crucial operational impediments – labor shortages, lost productivity, inventory errors, and waste. By combining fully autonomous drone technology with advanced data analytics, Verity enables clients to benefit from real-time visibility and precise control over their inventory, driving operational efficiencies, cost savings, and reductions in CO2 emissions.
Verity has proven its capability to unlock this value with a fully reliable system that is asset-light and can be installed in one week. With installations across 13 countries, Verity is the market leader in deploying autonomous inventory management solutions, with industry leading clients spanning retailers, 3PLs, and manufacturers.
“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. Their extensive expertise and global resources make them an ideal partner as we continue to innovate and scale our autonomous inventory management solution. We look forward to leveraging their insights and network.”
“The supply chain of the future is autonomous and automated,” said Boaz Peer, Senior Director, Qualcomm Israel Ltd. and 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. We’re excited to invest in Verity as it scales its operations internationally.”
Verity is grateful for the continued support of its investors and clients as it remains focused on driving innovation, expanding its market presence, and delivering exceptional value to clients worldwide. To learn more about the Verity system or to explore career opportunities, visit www.verity.net.
About Verity AG
Created by world leaders in autonomous systems and warehouse automation – Raffaello D’Andrea co-founded warehouse automation company Kiva Systems, which was acquired by Amazon in 2012 – deep-tech scale-up Verity delivers fully autonomous indoor drone systems that are trusted in environments where failure is not an option. Based in Zurich, Switzerland, with global operations, Verity’s system is used in warehouses to gather valuable insights that enable greater operational efficiencies. The system cuts labor and equipment costs, eliminates errors and disruptions, improves customer service, and reduces waste and CO2 emissions. Verity is growing rapidly and actively recruiting to fill positions across the company. Learn more at www.verity.net or on LinkedIn.
About Qualcomm Ventures
Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated entities, has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. For more information please visit: www.qualcommventures.com.
For more information, contact:
Raphaël Morgulis, Head of Marketing, Verity AG
+41 76 381 6166