Industrial Robotics Startup Ati Motors Raises $10.85 Mn In Funding
Ati Motors, an autonomous industrial robots maker, has raised $10.85 million in a Series A funding round led by True Ventures, a Silicon Valley venture capital firm.
The funding round also saw participation from existing investors Blume Ventures, Exfinity Ventures, and MFV Partners.
As per the startup, the freshly raised funds will be used to expand its operations in the US, Southeast Asia, and Mexico, as well as target new markets such as Europe and Japan via their global partnerships.
Ati Motors will also test out its autonomous robots for use cases beyond logistics in sectors such as pharmaceuticals, chemicals, injection molding etc.
Ati Motors | Autonomous Industrial Robots Maker
Founded in 2017, Ati Motors manufactures autonomous robots for industry use and can help automate warehouse work. The startup is currently headed by Saurabh Chandra after the company’s other co-founders, Vinay V and Saad Nasser, stepped down last year.
Currently, Ati Motors has two products—Sherpa Tug and RollerTop. Sherpa Tug, which is the firm’s bestselling product, can help transport payloads up to Rs 1,000 kilograms. The firm recently launched a new product, Sherpa Pivot, which can be customised as per different use cases.
The robots made by the firm combine AI, computer vision and hardware to perform complex tasks in dynamic environments on factory floors. As per the firm, while use cases of its robots include warehousing and logistics, it has narrowed its product-market fit with factories in the automotive, tyre and electrical industries.
As per Saurabh Chandra, Ati Motors has more than 18 customers across 30 plants. It counts Bosch, TVS, Hyundai and CEAT among its key customers across India and the US.
Commenting on the development, Parag Dhol, Partner at Athera Ventures, said,
“We are pleased to back Saurabh and his team at Ati. The team’s ability to design autonomous robots that operate in demanding manufacturing environments, is a testament to the availability of multidisciplinary skills in the Indian start-up ecosystem.”
In 2021, the firm raised $3.5 million in a pre-series A funding round led by Blume Ventures, Exfinity Venture Partners, and MFV Partners. It 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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