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Ati Motors raises $20M in Series B funding

Ati Motors, a company specializing in artificial intelligence (AI) and autonomous robotics, has secured $20 million in its Series B funding round. Walden Catalyst Ventures and NGP Capital spearheaded the round, which received additional support from existing investors such as True Ventures, Exfinity Venture Partners, Athera Venture Partners, and BlumeVentures.

The Bangalore-based startup previously raised $10.85 million in a Series A round in 2023. With this new funding, Ati Motors’ capital raised exceeds $37 million.

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.”

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.”

Over 40 top manufacturers, including Forvia and Hyundai, use Ati Motors’ robots. Fortune 500 brands comprise around 30% of the company’s client base. Ati Motors also tripled its order book in Q4 FY24 compared to Q3 FY24.

Drawing inspiration from self-driving car technology, Ati Motors focuses on automation in manufacturing with a product lineup that includes tugs, bin movers, pallet movers, and lifting platforms.

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