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HomeInsightFunding Alert Ottonomy.IO raises $3.3 million in seed round

[Funding alert] Ottonomy.IO raises $3.3 million in seed round

[Funding alert] Ottonomy.IO raises $3.3 million in seed round
Team Ottonomy.IO

Ottonomy.IO, an autonomous mobility startup has raised $3.3 Mn in its seed funding round led by Pi Ventures, with participation from Branded Hospitality Ventures, Connetic Ventures, Addverb Technologies’ CEO Sangeet Kumar, and Prateek Jain.

Other investors spread across the US, Singapore, Middle-East, Europe and India, also participated in this round.

The startup plans to use the funds to increase production and strengthen presence in North America, Europe and the Middle East. It will use the new capital to increase hiring in key verticals in India and the US.

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New York-based Ottonomy.IO was founded in 2020 by Ritukar Vijay, Ashish Gupta, Hardik Sharma and Pradyot KVN, It largely builds autonomous robotic fleets targeted at contactless delivery.

Its offering, Ottobots, creates a digital map of the serviceable area and then autonomously navigates the area to place orders. It deploys its proprietary contextual mobility navigation software in Ottobot to enable it to operate amidst crowded and unpredictable environments.

The startup deal was signed with Snapdeal in December 2020 and the product was then deployed at Cincinnati International Airport.

The startup aims to deploy its robots at airports, in the ecommerce space and for food and beverage (F&B) restaurants.

Ottonomy.IO CEO Vijay said that so far the robots have been deployed in many countries including America, Canada, and Europe.

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“Once a customer has ordered food online, the restaurant can load the robot with food, which can then deliver across multiple gates. The user can scan the QR code on the robot to receive the delivery,” he added.

Ottonomy.IO claims to offer Robot-as-a-Service (RaaS) to its customers to make its products available on a monthly subscription model.

“Ottobots are equipped with a sophisticated tech stack both at hardware and AI level. The founding team here brings years of multi-functional robotics experience, reflecting in the world class product that they have built and commercialized. We are very excited to make our first investment in robotics and couldn’t have asked for a better team to partner with”, said, Roopan Aulakh, managing director of Pi Ventures.

About Ottonomy.IO

Automated contactless deliveries through fleet of proprietary autonomous robots.

Their ecosystem enables their partners & customers to launch, manage & control the fleet of robots using their Network Operations Console, which can be integrated with their POS & ERP system.

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