Ati Motors, a startup in industrial robotics, has raised $10.85 million in a Series A fundraising round that was overseen by Silicon Valley venture capital firm True Ventures.
“A major differentiating factor for us is that while a lot of robotics companies are only targeting ecommerce, which is, of course, a great market, we have found our product market fit in the manufacturing sector,” Ati Motors CEO Chandra told Inc42.
Ati Motors intends to use the funding to grow its operations in the United States, Southeast Asia, Japan, and Europe, as well as to quicken the creation and introduction of its new and current product lines. Ati Motors will also look into potential in the chemical, and injection moulding industries with the most recent round of funding., as reported by Inc42.com
“There is a lot of trolley movement inside factories – it could be from store to the shop floor, the reverse movement of finished goods from the shop floor to the warehouse, or from one part of the factory to another. We have been able to completely automate these with our technology,” he said.
“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,” said Parag Dhol, partner at Athera Ventures, in a statement on the fundraise.
About Ati Motors
In 2017, Saurabh Chandra established Ati Motors, which produces driverless electric vehicles for goods moving in commercial settings like industries or warehouses. both inside and outside.