Ati Motors has developed remarkable platform, says Sharma
True Ventures, a Silicon Valley venture capital firm focused on early-stage technology companies, has joined seasoned investors to fund Bengaluru-based Ati Motors expansion into markets in the US, South East Asia, Japan and Europe while exploring untapped opportunities across pharmaceuticals, chemicals, maritime and injection molding sectors.
Having closed US$10.85 million Series A funding round, Ati Motors said it will continue to invest in research and development to launch new products and capabilities in the market.
Focused on investing in India, Athera Ventures Partners of Bengaluru 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.
Previously, Ati Motors had raised US$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 autonomous robots space is brimming with immense opportunities, and we’re at the forefront of this revolution as we transform industrial operations,” Saurabh Chandra, CEO of Ati Motors, said on 22 July 2023.
“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 has developed a remarkable platform that has the potential to revolutionize multiple sectors,” said Rohit Sharma, 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,” said Sharma.
“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,” said Parag Dhol, partner at Athera Ventures.
“We look forward to working with the Ati team to create a leading robotics company from India.”
Ati Motors counts Bosch, TVS Motors, CEAT and Hyundai amongst some of its key customers across India and US. The demand for autonomous mobile robots is rapidly increasing, driven by the need for efficient and flexible solutions in a changing world. Fiinews.com
