Autonomous Industrial Vehicle Manufacturer Ati Motors Raises $3.5 Mn In Pre-Series A Round
The platform will use the capital to manufacture and deploy a large fleet of autonomous vehicles in factories and warehouses in both domestic and global markets
Bengaluru-based all-electric autonomous industrial vehicle maker Ati Motors has raised $3.5 million in a funding round led by Blume Ventures and Exfinity Venture Partners, among others, according to reports.
The pre-Series A funding will be deployed for manufacturing and deployment of a large fleet of autonomous vehicles in factories and warehouses, in both domestic and global markets, the company said according to the report.
Ati Motors had earlier raised a seed fund from Village Global, a Bay Area based-early stage fund backed by the likes of Bill Gates, Mark Zuckerberg, and Jeff Bezos, among others.
MFV Partners and a syndicate on LetsVenture led by Livspace founder Ramakant Sharma also participated in the round, the report said.
Founded by Saurabh Chandra, V Vinay, and Saad Nasser, Ati Motors is a full-stack autonomous platform for material movement in industrial environments.
Ati Motors said it is also getting enquiries for its AV from foreign markets, including the US, Southeast Asia, and the Middle East, and is all set to make its mark globally. "We are now fueled up and ready to accelerate our go-to market plans," Chandra said.
"We are excited to be a part of the Ati Motors journey. With close to three million autonomous mobile robots (AMR) units expected to be shipped annually by 2030, the market opportunity is enormous (over $20 billion)," said Anirvan Chowdhury, investment team, Blume Ventures.
Ati Motors autonomous cargo vehicle Sherpa uses a technology approach similar to that used in driverless cars and is more versatile than warehouse or humanoid robots.
While Sherpa Tug, a one-tonne trolley puller, has been deployed in tough manufacturing environments with very rough conditions, Sherpa Lite has found uptake in ecommerce warehouses for order fulfillment.
The Sherpa Tug has been successfully deployed at a multinational auto OEM's manufacturing unit in Chennai, it said.
"Their ready-to-deploy Autonomous Mobile Robots will not just be helpful in manufacturing floors but also be transformational in many more use cases like warehousing and outdoor mobility," commented Nihar Ranjan, venture partner, Exfinity.