Verity secures additional USD 11 million in oversubscribed series B round with Qualcomm Ventures onboard

11.07.2023 17:10, Rita Longobardi

With A.P. Moller Holding leading the funding round and participation from Exor Ventures, Verity is well-positioned to accelerate its mission of providing data-driven intelligence and inventory management solutions using self-flying drones. This financing round will enable Verity to grow and strengthen its leadership position in the inventory automation market.

The extension, which includes Qualcomm Ventures as a new investor, brings Verity's total round to an impressive USD 43 million. In an era where supply chain efficiency and automation are crucial, Verity's Series B capital infusion will enable the company to scale its delivery of zero-error warehouses and bring predictable value to the supply chain industry. By combining autonomous drone technology with advanced data analytics, Verity empowers its clients with real-time visibility and precise control over their inventory, leading to operational efficiencies, cost savings, and reduced CO2 emissions.

Verity has already demonstrated its capabilities with a reliable, asset-light system that can be installed within a week. With installations spanning 13 countries, Verity is the market leader in deploying autonomous inventory management solutions, serving renowned clients such as retailers, 3PLs, and manufacturers.

Raffaello D'Andrea, Verity's Founder and CEO, expressed excitement about Qualcomm Ventures joining the investor lineup, emphasizing their shared vision of supply chain transformation. D'Andrea highlighted the expertise and global resources of Qualcomm Ventures as an ideal partnership for Verity as they continue to innovate and expand their autonomous inventory management solution.











Verity Co-Founder and CEO Raffaello D'Andrea

Boaz Peer, Senior Director of Qualcomm Israel Ltd. and Managing Director of Qualcomm Ventures Israel and Europe, emphasized the importance of autonomous and automated supply chains in the future. Peer praised Verity's self-flying drone technology and advanced warehouse inventory analytics for enabling end-to-end, real-time visibility in transforming supply chains. Qualcomm Ventures is thrilled to invest in Verity as it expands its operations internationally. Verity extends its gratitude to its investors and clients for their unwavering support. The company remains dedicated to driving innovation, expanding its market presence, and delivering exceptional value to clients worldwide.

Verity was ranked in the TOP 100 Swiss Startup Award in 2018 and in the TOP 100 Scale-ups in 2020 and 2021.