Validation from Customers and SEF.Growth

The success with IKEA was marked by an expansion from one pilot site to multiple sites, with the Swedish furniture giant recently disclosing more than 70 sites equipped with the Verity system. " Securing a single pilot is just the beginning and doesn’t signal market validation. True success is demonstrated when multiple clients decide to expand your services across multiple locations, showing clear evidence of the value and the reliability of your system."

Applying for the SEF.Growth High Potential Label was an additional way to gain validation from an independent organization, affirming that the company is on the right path. Verity is set to unveil new technological advancements developed in collaboration with major consumer brands, marking an exciting step forward in the company's growth and capabilities.

Navigating Unexpected Challenges

Even though the drone shows at live events were a key ingredient for Verity's success, this business arm was most impacted by the rise of COVID-19. "The pandemic was a turning point for us, as it brought this revenue stream to a halt," Raff explained. However, Verity swiftly accelerated the development of its warehouse solutions. This heightened focus in deploying resources was painful because it involved layoffs and difficult decisions but ultimately strengthened the company. In hindsight, the pandemic helped Verity find excellent investors and pushed its warehouse solutions to the forefront. Verity has secured 90 million USD in venture funding to fuel its growth.

Raff's optimistic outlook shines through as he reflects on this period: "Challenges are also opportunities. What doesn't kill you makes you stronger." Despite the hardships, he believes that the decisions made during the pandemic were right both for the company and the people involved, even if they were difficult at the time.

High Values as Part of the Company's DNA

In 2019, Verity demonstrated its commitment to doing the right thing in a contract with Cirque du Soleil in China. Although the company had received full prepayment for a project, the event was unexpectedly canceled. Understanding the financial impact on Cirque, Verity voluntarily offered to return a portion of the funds, even without a request from Cirque. "At Verity, we do what’s right, for the client and for ourselves. It always pays off." This gesture strengthened the relationship between the two companies, leading to future collaborations, including an upcoming major event in Las Vegas, after already 400 shows delivered together.

Verity’s journey is one of innovation, resilience, and strategic growth. From its early days as a research project to becoming a key player in warehouse automation, Verity exemplifies how a strong vision, combined with technical expertise and ethical leadership, leads to extraordinary success. Verity has just announced a new major client with UPS and is heading for spectacular horizons.

Verity AG

Verity's AI-powered drones make warehouse management fully autonomous