Tag: 90m

Exotec raises $90M to support the international expansion of its warehouse robotics solutions

LILLE, France, Sept. 29, 2020 /PRNewswire/ — Exotec, a leading robotics solution for logistics and creator of the Skypod 3D warehouse robots, announces today a $90 million financing round, led by 83North – with participation from Dell Technologies Capital – and supported by historical investors, Iris Capital and Breega.

This new funding will further fuel Exotec’s international development, especially their recently formed Atlanta and Tokyo teams and help them meet the growing demand for warehouse automation technology in the United States and Asia. Exotec has the ambition to become the leader in robotics solutions for logistics and forecasts they will produce up to 4,000 robots per year by 2021.

Exotec’s revolutionary robots allow retailers and e-merchants to quadruple their warehouse productivity and increase up to five times their storage capacity. Their autonomous robots can move in a unique three-dimensional pattern at a speed of 13 feet per second,

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Korro Bio raises $90m to fix mutations that cause diseases

Korro Bio, a Cambridge biotechnology firm, said Thursday it has raised more than $90 million in venture capital to advance its technology to repair genetic mutations that cause a variety of diseases.

The startup, which was founded in 2018 by Cambridge venture capital firm Atlas Venture, hopes to treat disorders through RNA editing, a cutting-edge approach that makes changes to the molecular messengers that create proteins implicated in various illnesses.

Korro’s approach to RNA editing could lead to treatments for disorders that affect the liver, eyes and central nervous system, according to a company spokeswoman, who declined to be more specific.

The biotech has tested its technology in laboratory animals and plans to ask the Food and Drug Administration for permission to test it in humans.

“This technology holds tremendous potential to usher in a new era of RNA editing therapies,” said Nessan Bermingham, Korro’s co-founder and executive chairman.


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