Otto Motors, a division of Clearpath Robotics, has closed US$29m (£23m) in Series C funding for the continued expansion of its autonomous mobile robot (AMR) platform.
The investment was led by Kensington Private Equity Fund with participation from BMO Capital Partners, Export Development Canada, and previous investors iNovia Capital and RRE Ventures.
According to the company, this funding will be used to expand its global network of delivery partners and accelerate its product roadmap for enterprise customers with emphasis on autonomous materials handling technology.
“Mobile robots are no longer a luxury in the workplace; they are a necessity,” said Clearpath CEO and co-founder Matthew Rendall.
“In a post-Covid world, AMRs enhance worker safety and bring resiliency to supply chains. As enterprises adapt, AMR demand will accelerate globally.
“This investment will enable us to grow to meet the evolving needs of the factories and warehouses of the future anywhere in the world.”
Including this Series C round, Otto Motors has now raised US$83m (£66m) in funding.
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