Verity Soars Higher with $11M Boost for Inventory Drones

A Swiss drone startup, Verity, has further fueled the drone frenzy this summer by securing an additional $11 million in funding. This recent cash injection extends its Series B round, announced in March, to a grand total of $43 million.

Verity’s drone technology, which has already found its way into 16 of Ikea’s European warehouses, is rapidly gaining traction in the buzzing drone market. The drones are currently operational in 13 countries, according to the company.

Though further details about the deployment are sparse, the potential reach is massive. There’s a vast array of third-party logistics firms, retailers, and manufacturers with countless shelves that could benefit from automated inventory.

The warehouse environment poses unique challenges that companies such as Simbe and Bossa Nova are tackling by focusing on in-store shelf scanning. London-based Dexory has also devised a distinctive solution with its extending scaffolding system on wheels, designed to inventory those hard-to-reach warehouse shelves.

Drones, however, are particularly well-suited to the task due to their small size, agility, and ability to access the tallest shelves. This has led to a surge of startups entering the drone inventory sector, including the Y Combinator-backed Corvus. The key to success in this space is crafting systems with limited connectivity, enabling drones to operate indoors while preventing collisions.

A.P. Moller Holding spearheaded Verity’s latest funding round, which notably included Qualcomm Ventures. Boaz Peer of Qualcomm Ventures reportedly said, “The supply chain of the future is autonomous and automated.”

He believes Verity’s self-flying drones and advanced warehouse inventory analytics are transforming supply chains by providing real-time visibility.

The recent upheaval and uncertainty in supply chains, coupled with labor shortages, have fueled a growing interest in automation across the industry.

Few aspects of this world are more ripe for automation than inventory. To this end, Verity plans to use its latest funding to scale its operations internationally and bring its innovative solution to market.

Photo courtesy of Verity.