Bengaluru-based industrial robotics startup, Ati Motors, announced on Friday (July 21) that it has successfully raised $10.85 million in Series A led by Silicon Valley-based venture capitalist True Ventures where Athera Venture Partners, as well as existing investors such as Blume Ventures, Exfinity Ventures, and MFV Partners also participated.
Plans for Expansion and Product Development
Ati Motors intends to utilize the fresh capital to expand its business presence in key markets such as the US, South East Asia, Japan, and Europe. Additionally, the startup aims to accelerate the development and deployment of both its existing and new product lines.
Autonomous Mobile Robot Manufacturer
Founded in 2017 by Saurabh Chandra, Ati Motors specializes in manufacturing autonomous mobile robots that help optimize productivity and streamline operations for various manufacturers across sectors. Although the startup has primarily focused on the automobile sector thus far, it has secured prominent clients like TVS Motor, CEAT, and Hyundai.
Expanding Beyond the Automobile Sector
With the latest funding, Ati Motors plans to explore opportunities beyond the automobile sector and venture into industries such as chemicals, pharmaceuticals, maritime, and injection molding. The startup’s technology has found a strong fit in the manufacturing sector, distinguishing it from other robotics companies primarily targeting ecommerce.
Future Plans and New Product Launches
Ati Motors provides not only robotic solutions but also robotics-as-a-service (RaaS). Currently, the startup serves customers in India and the US, with its robots deployed in over 30 manufacturing plants. With ambitious expansion plans, Ati Motors aims to deploy its industrial robots in more than 100 plants by the next year.
The company currently offers two products: the Sherpa Tug, a 1-tonne trolley mover, and the Sherpa RollerTop, capable of carrying up to 50kg payload bridging conveyor systems. To further enhance its offerings, Ati Motors is unveiling a new product called Sherpa Pivot, designed to carry bins, mount robotic arms, or function as a flexible assembly line for transporting items between stations. Additionally, the startup will introduce an updated version of its existing Sherpa Tug, called Sherpa Tug v4.
Ati Motors has emphasized its in-house development of mechanical vehicles, electronics, and a complete software stack, showcasing its comprehensive approach to autonomous robotics. With a total funding of $17 million, including the latest round, the startup is well-positioned to compete with key players in the autonomous robotics industry, such as GreyOrange and Ottonomy.
The market for autonomous robots is rapidly growing, presenting significant opportunities both in India and globally. The Indian industrial automation market is projected to reach $25.8 billion by 2028, up from $13.25 billion in 2023, indicating substantial potential for growth in the industry.
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