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Ati Motors, maker of autonomous industrial robots, on Friday announced the close of its new funding round of $10.85 million.
The Series A round was led by True Ventures. Athera Ventures Partners joined as a new investor, while existing investors Blume Ventures, Exfinity Ventures and MFV Partners also participated.
The latest funding will help Ati Motors implement plans to expand into markets in the US, South East Asia, Japan and Europe while exploring opportunities across the pharmaceuticals, chemicals, maritime, and injection moulding sectors.
The Bengaluru-based startup will also continue to invest in research and development to launch new products and capabilities in the market.
“The autonomous robots space is brimming with immense opportunities, and we’re at the forefront of this revolution as we transform industrial operations,” said Saurabh Chandra, CEO of Ati Motors.
“This funding will fuel our expansion into new markets and industries. With the support of our investors who share our vision, we’re well-positioned to continue pushing the boundaries of robotics technology and meet the evolving needs of our customers,” he added.
New models
Ati Motors team showcased new models of its advanced autonomous mobile robots designed to enhance productivity and efficiency across various sectors. The company’s robots are inspired by self-driving cars in terms of how they combine artificial intelligence, computer vision, and hardware to perform complex tasks in dynamic environments.
Ati Motors counts Bosch, TVS Motors, CEAT and Hyundai amongst some of its key customers across India and US.
Previously, Ati Motors had raised $3.5 million in a pre-series A funding round led by Blume Ventures, Exfinity Venture Partners, and MFV Partners in 2021. The company has also received seed funding from Village Global, an early-stage fund based in California backed by Bill Gates, Mark Zuckerberg, and Jeff Bezos, among others.
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