Ati Motors Raises $3.5mn Funding Led By Blume Ventures And Exfinity Venture Partners, Among Others
- ByStartupStory | July 14, 2021
Bangalore-based all-electric autonomous industrial vehicle maker has raised USD 3.5 million in a funding round, led by Blume Ventures and Exfinity Venture Partners, among others. Founded by Saurabh Chandra, V Vinay and Saad Nasser, Ati Motors is a full stack autonomous platform for material movement in industrial environments. The pre-Series A funding will be utilized for manufacturing and deployment of a large fleet of autonomous vehicles in factories and warehouses, in both domestic and global markets, the company said on Wednesday. The company had earlier raised a seed fund from Village Global — a Bay Area based-early-stage fund backed by some of the world’s most successful entrepreneurs like Bill Gates, Mark Zuckerberg, and Jeff Bezos among others, according to the release.
MFV Partners and a syndicate on LetsVenture led by Livspace founder Ramakant Sharma also participated in the round, Ati Motors said. Ati Motors said “it is also getting enquiries for its AV from foreign markets, including the US, Southeast Asia and 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.Ati Motors autonomous cargo vehicle Sherpa uses a technology approach similar to that used in driverless cars (the likes of Tesla and Google) and is more versatile than warehouse or humanoid robots, the company said.
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 e-commerce warehouses for order fulfilment, the company said. Anirvan Chowdhury (Investment team, Blume Ventures), 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 USD 20 billion).’
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