# Verity

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/verity

- Industry: Consumer Products
- Headquarters: Zurich, Switzerland
- Website: www.verity.net
- Total disclosed funding: $61M
- Latest round: Series B (Jul 11, 2023)
- Investors on record: 11

## About

Based in Switzerland, Verity AG develops AI-powered autonomous drone systems for inventory management, enhancing operational efficiency and accuracy across various industries.Verity AG, founded in 2014 by Markus Hehn, Markus Waibel, and Raffaello DAndrea, specializes in autonomous drone solutions. Headquartered in Zurich, Switzerland, the company has executed five deals to date. Their most recent funding round was a Series B in July 2023, raising USD 11.000 mn from notable investors including A.P. Moller Holding and Airbus Ventures, bringing the total raised to USD 11.000 mn.Verity specializes in AI-powered autonomous drone systems designed for inventory management, providing a robust solution that enhances operational efficiency across various industries. Their core offerings include mobile intelligence systems that integrate seamlessly with warehouse management systems (WMS) to deliver precise, real-time data on inventory. By automating inventory tracking and management, Verity addresses significant pain points such as inventory inaccuracies, labor inefficiencies, and operational errors, ultimately driving down costs and improving service levels. The company primarily serves a diverse client base, including top retailers, logistics service providers, manufacturers, and firms within the fashion, apparel, and food and beverage sectors. Since its first commercial rollout in 2020, Verity has broadened its reach with over 150 client sites, catering to markets across North America, Europe, and Asia.Verity's revenue model centers around B2B transactions, primarily offering subscription-based services and partnerships with its clients. The company’s flagship AI-powered systems are structured to provide clients with scalable solutions that integrate into their existing operations, facilitating a smoother transition and quicker deployment of their technology. Clients typically engage in agreements that encompass initial setup costs, followed by regular subscription fees for ongoing software updates and support services. These transaction structures are designed to ensure that clients benefit from continuous enhancements in inventory management capabilities without significant upfront capital expenditure. Specific pricing plans or costs associated with their products and services are not publicly disclosed.In July 2023, Verity AG raised USD 11.000 mn in Series B funding to support its expansion plans and product development. The company aims to enhance its market reach and is actively working on new product designs, although specific release dates have not been disclosed. Verity is targeting expansions into new markets across Europe and Asia by 2025.

## Funding rounds

- Series B, Jul 11, 2023, $11M — Qualcomm Ventures, Fontinalis Partners, Airbus Ventures, Sony Innovation Fund, A.P. Moller Holding, Verve Ventures, ROBO Global, LLC, Exor Ventures
- Series B, Mar 14, 2023, $32M — A.P. Moller Holding, Exor Ventures
- Series A, Jun 5, 2018, $18M — Fontinalis Partners, AVG Ventures, Alumni Ventures Group, Airbus Ventures, Sony Innovation Fund, Kitty Hawk Corporation

## Investors

- Fontinalis Partners (https://capitalatlas.ai/funds/fontinalis-partners) — Series A, Series B
- AVG Ventures — Series A
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series A
- Airbus Ventures (https://capitalatlas.ai/funds/airbus-ventures) — Series A, Series B
- Sony Innovation Fund (https://capitalatlas.ai/funds/sony-innovation-fund) — Series A, Series B
- Kitty Hawk Corporation — Series A
- A.P. Moller Holding — Series B
- Exor Ventures — Series B
- Qualcomm Ventures (https://capitalatlas.ai/funds/qualcomm-ventures) — Series B
- Verve Ventures (https://capitalatlas.ai/funds/verve-ventures) — Series B
- ROBO Global, LLC — Series B