Ati Motors, a maker of autonomous industrial robots, announced the close of its new funding round of $10.85 million. True Ventures led the Series A round.
New investor Ventures Partners joined with existing investors Blume Ventures, Exfinity Ventures, and MFV Partners.
The latest funding will help Ati Motors implement its plans to expand into markets in the United States, South East Asia, Japan, and Europe while looking into opportunities across the pharmaceuticals, chemicals, maritime, and injection moulding sectors.
The Bengaluru-based startup will also continue to invest in R&D to launch new capabilities and products in the market.
According to co-founder and CEO Saurabh Chandra, the company’s robots—autonomous industrial vehicles deployed in fully functional warehouses and factories—have been deployed in over 30 factories. The company’s clients include Bosch, TVS, CEAT and Hyundai.
Ati Motors’ main product, the Sherpa Tug, hitches to available trolleys at factories and can pull multiple trolleys indoors and outdoors. The waterproof product can take a payload of up to 1,000 kg.
The company’s robots combine artificial intelligence, computer vision and hardware to perform complex tasks in dynamic environments on factory floors. Although warehousing and logistics are among the applications for its robots, the company has focused its product market fit with factories in the automotive, tyre, and electrical industries.
“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 startup ecosystem,” Parag Dhol, partner at Athera Ventures, said.
Ati Motors raised $3.5 million in a pre-series A funding round 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 California backed by Bill Gates, Mark Zuckerberg, and Jeff Bezos, among others.
