Highlights
Funding Update on Ati Motors
Ati Motors, a company specialising in industrial robotics, has successfully secured $20 million in its Series B funding round. This round was spearheaded by Walden Catalyst Ventures (WCV) and NGP Capital (NGP), with contributions from existing investors such as True Ventures, Exfinity Venture Partners, Athera Venture Partners, and Blume Ventures.
Previously, in July 2023, Ati Motors raised $10.85 million in a Series A round led by True Ventures. Additionally, the company garnered $3.5 million in pre-Series A financing in 2021, which was also led by Blume Ventures, along with Exfinity Venture Partners and MFV Partners.
Utilisation of the New Funds
The latest influx of capital will be invested in several key areas:
- Accelerating product development
- Expanding market reach in North America and the Asia-Pacific (APAC) region
- Enhancing the company’s competitive positioning
Company Overview
Ati Motors focuses on developing autonomous mobile robots aimed at optimising productivity and streamlining operations in various sectors, including:
- Warehousing
- Logistics
- Manufacturing
Recently, Ati Motors established operations in Mexico and has bolstered its presence in the United States, India, and Southeast Asia. The company is in the process of expanding its North American headquarters in Detroit, MI.
Key Clientele
Among its notable clients, Ati Motors lists:
- Bosch
- TVS Motors
- CEAT
- Hyundai
Financial Performance
According to data from various sources, Ati Motors reported a revenue of Rs 12.42 crore for FY24, an increase from Rs 5.7 crore in FY23. However, the company also experienced a significant rise in losses, which nearly doubled to Rs 20.3 crore during the same period.
Industry Competition
In December, construction robotics firm Haber raised $44 million in a Series C funding round led by Creaegis, BEENEXT, and Accel. Ati Motors finds itself in competition with several companies, including:
- Detect Technologies, backed by Prosus
- Altizon
- Fero Labs
