Autonomous industrial robots maker Ati Motors has raised $10.85 million in its Series A round 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. The round saw participation from existing backers including Blume Ventures, Exfinity Ventures and MFV Partners.
The funds will be used to expand into markets in the US, South East Asia, Japan, and Europe while exploring untapped opportunities across pharmaceuticals, chemicals, maritime, and injection molding sectors, the company said in a press release. Ati Motors will continue to invest in research and development to launch new products and capabilities in the market.
Ati Motors develops autonomous mobile robots that optimize productivity and streamline operations in sectors such as warehousing, logistics, and manufacturing. Previously, it had raised $3.5 million in pre-series A funding 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 the Bay Area and backed by Bill Gates, Mark Zuckerberg, and Jeff Bezos, among others.
The firm counts Bosch, TVS Motors, CEAT and Hyundai amongst some of its key customers across India and US.