Ati Motors Industrial Robotics Company Raised $10.85 Million

Ati Motors, an industrial robotics company, has successfully raised $10.85 million in a Series A funding round, with True Ventures, a Silicon Valley-based firm, leading the investment. The company plans to utilize the funds to accelerate the development and deployment of robotic technology for automating tasks in industrial environments and warehouses. Additionally, the funding will aid the company’s expansion into markets across the US, South East Asia, Japan, and Europe. Ati Motors is looking to venture into new and unexplored opportunities in various sectors, including pharmaceuticals, chemicals, maritime, and injection molding. Read More Business News on our website.

The CEO of Ati Motors, Saurabh Chandra, expressed gratitude to the investors for their support and emphasized their commitment to push the boundaries of robotics technology to meet customer needs. True Ventures, known for backing early-stage tech startups, praised Ati Motors for its remarkable platform that has the potential to revolutionize multiple sectors.

Ati Motors employs artificial intelligence and computer vision in its hardware to manufacture robots. The company had previously raised $3.5 million in pre-Series A funding in 2021 and received seed funding from Village Global, which is supported by prominent figures like Bill Gates, Mark Zuckerberg, and Jeff Bezos.

Alongside the funding announcement, Ati Motors unveiled new models of its advanced autonomous mobile robots. These robots are equipped with artificial intelligence, computer vision, and hardware capabilities similar to self-driving cars, allowing them to perform complex tasks in dynamic environments. The company’s robots find applications in industries such as warehousing, logistics, and manufacturing.

Among its customers, Ati Motors serves well-known companies like Bosch, TVS Motors, CEAT, and Hyundai in both India and the US. The industrial robotics market in India is projected to witness substantial growth, reaching $228.30 million in revenue by 2023 and a market volume of $264.10 million by 2028, with an annual CAGR of 2.96% during the 2023-2028 period, as per Statista, a statistics platform.