Ati Motors, an Indian maker of autonomous industrial robots with offices in Detroit, announced the close of its Series A funding round in the amount of $10.8 million.
The investment, occurring alongside the company’s product launch event, will further accelerate the development and deployment of Ati Motors’ robotics technology for automating work in industrial environments and warehouses.
The Series A round is led by True Ventures, a Silicon Valley venture capital firm focused on early-stage technology companies. Athera Ventures Partners also joined as a new investor, bringing its extensive experience in deep tech investments. The round saw significant participation from previous investors: Blume Ventures, Exfinity Ventures and MFV Partners.
The latest funding will allow Ati Motors to expand into markets in the U.S., southeast Asia, Japan, and Europe while exploring untapped opportunities across pharmaceuticals, chemicals, maritime, and injection molding sectors. Ati Motors will continue to invest in research and development to launch new products in the market.
At the product launch event, the Ati Motors team showcased new models of its advanced autonomous mobile robots designed to improve productivity and efficiency across various sectors.
The company’s robots take cues from self-driving cars in terms of how they combine artificial intelligence, computer vision, and hardware to perform complex tasks in difficult environments. Key use cases have spanned industries such as warehousing, logistics manufacturing, and more. The company has achieved a presence in factories in the automotive, tires, and electrical industries.
“The autonomous robot space is brimming with immense opportunities, and we’re at the forefront of this revolution as we transform industrial operations,” says 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.”
Ati Motors’ customer base includes Bosch, TVS Motors, CEAT, and Hyundai in India and the U.S.
“Ati Motors has developed a remarkable platform that has the potential to revolutionize multiple sectors,” says Rohit Sharma, a partner at True Ventures. “We’re excited to lead this funding round and support the Ati Motors team in their mission to deploy intelligent robots to solve complex challenges in Industrial applications today. This team, combined with a relentless focus on innovation, positions them as a key player in the autonomous robotics space.”
