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Industrial robotics company Ati Motors has raised $20 million in its Series B round, led by Walden Catalyst Ventures (WCV) and NGP Capital (NGP), with participation from current investors including True Ventures, Exfinity Venture Partners, Athera Venture Partners, and Blume Ventures.
Previously, it raised $10.85 million in a Series A round, led by True Ventures in July 2023. It also raised $3.5 million in pre-Series A funding, led by Blume Ventures, Exfinity Venture Partners, and MFV Partners in 2021.
The fresh funding will be used to accelerate product development, expand Ati Motors' market presence in North America and APAC, and strengthen its position.
Ati Motors develops autonomous mobile robots that optimize productivity and streamline operations in sectors such as warehousing, logistics, and manufacturing. The company recently established operations in Mexico and has strengthened its presence across the US, India, and Southeast Asia. It is currently expanding its North American headquarters in Detroit, MI.
Ati Motors counts Bosch, TVS Motors, CEAT, and Hyundai among its key customers across India and the US.
According to data intelligence platform TheKredible, Ati Motors reported Rs 12.42 crore in revenue for FY24, compared to Rs 5.7 crore in FY23. During the period, its losses also surged nearly twofold to Rs 20.3 crore.
In December, industrial robotics maker Haber raised $44 million in its Series C round, led by Creaegis, BEENEXT, and Accel. Ati Motors also competes with Prosus-backed Detect Technologies, Altizon, and Fero Labs, among others.