 "AI, autonomous robotics firm Ati Motors raises $20 mn in Series B funding")
Ati Motors, an artificial intelligence (AI) and autonomous robotics company, has raised $20 million in a Series B funding round. The round was led by Walden Catalyst Ventures and NGP Capital, with participation from existing investors including True Ventures, Exfinity Venture Partners, Athera Venture Partners, and Blume Ventures.
In 2023, the Bangalore-based startup raised $10.85 million in a Series A funding round. This latest investment brings Ati Motors’ total funding to over $37 million.
Speaking to Business Standard, Saurabh Chandra, founder and chief executive officer of Ati Motors, said the company plans to expand its product portfolio, deepen its global market penetration, and strengthen its position in the industry.
“With the growing robot fleet, we are focused on improving their management and orchestration on the software side. Recently, one of the major European truck manufacturers adopted our fleet management software to oversee all robots in its factory. We are now capable of managing multi-vendor robots in our software workflows,” Chandra said.
Ati Motors aims to scale its robot deployment from the three-digit range to the four-digit range within the next two years.
The company also plans to enhance operations in North America and the Asia-Pacific markets with the new funding. “With the ‘China plus one’ strategy, a significant amount of manufacturing is shifting back to North America, where workforce availability for routine goods movement is scarce,” Chandra explained. He added that several customers are adopting robots in multiple geographies. The company recently set up operations in Mexico and bolstered its presence across the United States, India, and Southeast Asia.
Shankar Chandran, partner at Walden Catalyst Ventures, said, “Ati Motors’ unique combination of advanced AI capabilities and robotics, along with a deep understanding of manufacturing environments, positions them perfectly to lead the next wave of industrial automation.”
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Upal Basu, partner at NGP Capital, added, “The company’s ability to successfully deploy fully autonomous mobile robots across diverse industrial environments, combined with their rapidly growing customer base, makes them a standout in the industrial automation space.”
Ati Motors’ robots are deployed across 40 leading manufacturers, including Forvia and Hyundai. Approximately 30 per cent of the brands in Ati Motors’ client portfolio are Fortune 500 companies. The company also tripled its order book in Q4 FY24 compared to Q3 FY24.
Inspired by self-driving cars, Ati Motors specialises in manufacturing automation with products such as tugs, bin movers, pallet movers, and lifting platforms.