London-based robotics firm Dexory has secured $80 million (£63 million) in Series B funding, bringing its total investment to $120 million (£90 million) over the past three years.

Funding was led by DTCP, with backing from Latitude Ventures, Wave-X and Bootstrap Europe, alongside existing investors.

According to Dexory the funding will support the expansion of AI features across the company’s warehouse management platform.

Large logistics companies such as GXO, Maersk and DB Schenker are expected to benefit from this funding as Dexory plans to accelerate robot deployment with these major logistics firms.

Dexory's technology uses autonomous mobile robots and AI to provide real-time visibility across warehouses, the system creates digital twins of warehouse spaces.

The robotics firm said adopters have reported significant improvements, with DB Schenker increasing inventory accuracy by 6%, and ID Logistics reducing manual investigations by 41% within two months.

Industry forecasts suggest substantial growth potential, with the logistics automation market expected to reach $90 billion by 2030, growing at 15% annually.

Additionally, the digital twin technology market is projected to reach $155.83 billion by 2030.

Andrei Danescu, CEO and co-founder of Dexory, said: "We are incredibly excited about the momentum we've built over the past 18 months.

DexoryView is proving to be an unrivalled technology for driving real digital transformation and delivering better business outcomes in the warehousing and supply chain industries."

Michael Rager, Partner at DTCP and new Dexory board member, added: "The company is perfectly positioned at the intersection of our investment thesis on digitisation and automation.

Its ability to capture detailed, actionable data from physical spaces and integrate it seamlessly into the supply chain is impressive."