Reflecting the increasing momentum in India’s startup environment, Ati Motors, an autonomous robotics business, has raised $20 million in a Series B fundraising round headed by Walden Catalyst Ventures and NGP Capital.
Existing investors True Ventures, Exfinity Venture Partners, Athera Venture Partners, and Blume Ventures also participated in the round.
With the additional funding, the company intends to boost its global footprint, grow its business in North America and Asia-Pacific, and expedite product development. Ati Motors is growing its headquarters in Detroit, Michigan, and has opened operations in Mexico.
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“We have robots in places including the United States, Mexico, India, Thailand, Singapore, and Vietnam. Our solutions, which were first created for India, are highly favored by customers, particularly in harsh environments. We’ll consider growing in Thailand, Mexico, and the United States,” cofounder and CEO Saurabh Chandra stated.
“With this funding, we will be able to enhance our industrial autonomy platform and create next-generation AI models,” Chandra continued. “14 Fortune 500 firms are among our more than 40 clients. For the first time, many of them are successfully implementing mobile robots on factory shop floors.
Saad Nasser, V Vinay, and Saurabh Chandra founded Ati Motors in 2017 as a complete stack autonomous platform for moving materials in industrial settings.
The company focuses on creating self-governing robots that are intended to boost efficiency in intricate industrial settings. Its robots use sophisticated AI, LIDAR, and robotics in conjunction with vast real-world datasets to navigate dynamic environments and carry out activities that are typically regarded as tedious, filthy, or hazardous.
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Pallet movers and lifting robots have been added since we began using pulling robots. The range of products is growing considerably. To create more AI-centric robots with cutting-edge AI and deep learning capabilities, we are utilizing the world’s greatest physical AI database,” Chandra continued.
According to Ati Motors, the company added nine new significant clients in the fourth quarter, tripling its order book.
“Hundreds of Ati Motors’ Sherpa robots have been placed throughout 40 manufacturing plants, including well-known clients like Hyundai and Forvia. With large-scale deployments in North America, Fortune 500 corporations own about 30% of these sites, Chandra continued.
A pre-series A investment round led by Blume Ventures and Exfinity Venture Partners, among others, helped Ati Motors raise $3.5 million in 2021. In both domestic and international markets, the round primarily concentrated on the production and implementation of a sizable fleet of autonomous cars in factories and warehouses.
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Ati Motors reported in 2023 that it had raised $10.85 million in its Series A fundraising round. True Ventures was the leader of the round.
Upal Basu of NGP Capital commended the company’s capacity to deploy completely autonomous mobile robots in a variety of environments, while Shankar Chandran of Walden Catalyst Ventures hailed its distinctive fusion of AI and robotics skills.
The money comes as India’s growing industrial sector attracts more attention from investors. It puts Ati Motors in a position to benefit from the growing need for robotics in manufacturing, a field looking for practical automation solutions.
