Heaptalk, Jakarta — Singapore’s intelligent warehousing automation company, XSquare, has secured a Series A investment worth US$7.7 million, led by Wavemaker Partners and backed by Seeds Capital. The startup will use the new injection to expand its regional operations, strengthen its go-to-market capabilities, and advance its research and development efforts to introduce new and improved features powered by AI technology.
“Over the past five years, we have enabled companies to overcome automation fragmentation and achieve complete interoperability across various warehouses, factories, and dynamic environments. Our hardware and software solutions ensure seamless interworking of all components within manned and unmanned settings to deliver substantial productivity improvements without needing major reconfiguration,” CEO of XSquare, Jens Bohnwagner, said.
Since 2019, XSquare has helped global and local companies successfully navigate their transition towards automation. The company provides intelligent warehouse solutions to address critical gaps arising from recurring labor shortages and the urgent need to automate and optimize operations in brownfield and greenfield environments.
Further, the latest funding round also marks a pivotal stage for XSquare as it continues its subsequent growth. Since its inception, the company has performed impressively, including building a fast-growing client base of market leaders such as Coca-Cola, GSK, and Katoen Natie. The startup also continues to amplify strategic partnerships. One is affiliating with Mitsubishi Logisnext (ML) to develop a new line of Automated Guided Vehicles (AGVs) and XSquare’s Products distribution through ML’s global distribution network.
Moreover, with the 24/7 availability of XSquare’s AGV, the Managing Partner of Wavemaker Partners, Paul Santos, recognized that Singapore’s Logitech startup runs 20% more quickly than existing solutions while maintaining the highest standards and providing real-time inventory visibility.
“This progress leads to significant cost savings for companies, including thousands of dollars in labor costs annually. We are thrilled to be part of XSquare’s journey as it enables various industries to improve their warehouse processes and focus on creating higher-value jobs,” Santos added.
