Ati Motors raises $20 million led by Walden Catalyst Ventures and NGP Capital

Ati Motors, an autonomous robotics company, has raised $20 million in a Series B funding round led by Walden Catalyst Ventures and NGP Capital, reflecting the growing momentum in India's startup ecosystem.

The round also saw participation from existing investors, including True Ventures, Exfinity Venture Partners, Athera Venture Partners, and Blume Ventures.

The company plans to use the new capital to accelerate product development, expand its operations in North America and the Asia-Pacific region, and strengthen its global presence. Ati Motors recently established operations in Mexico and is expanding its headquarters in Detroit, Michigan.

"Our robots are deployed across geographies like the US, Mexico, India, Thailand, Singapore, and Vietnam. Customers love our solutions, especially in rugged conditions, which were initially designed for India...We will look at expanding to the US, Thailand and Mexico," said cofounder and CEO Saurabh Chandra to Moneycontrol. 

“This funding will enable us to develop next-generation AI models and advance our industrial autonomy platform,” Chandra added. "We have over 40 customers, including 14 Fortune 500 companies. Many of them are deploying mobile robots successfully in factory shop floors for the first time".

Founded in 2017 by Saurabh Chandra, V Vinay and Saad Nasser, Ati Motors is a full stack autonomous platform for material movement in industrial environments.

The firm specializes in developing autonomous robots designed to enhance productivity in complex industrial environments. Leveraging extensive real-world datasets, its robots combine advanced AI, LIDAR, and robotics to navigate dynamic scenarios and perform tasks traditionally considered dull, dirty, or dangerous.

"We started with tugging robots and have now added pallet movers and lifting robots. The product portfolio is expanding significantly...We are leveraging the best physical AI database in the world to build more AI-centric robots with advanced edge AI and deep learning capabilities," Chandra added.

Ati Motors claims to have tripled its order book in the fourth quarter, adding nine new major clients.

"Ati Motors has deployed hundreds of its Sherpa robots across 40 manufacturing facilities, including notable customers like Forvia and Hyundai. About 30% of these facilities belong to Fortune 500 companies, with significant scaled deployments in North America," Chandra added.

In 2021, Ati Motors raised $3.5 million in a pre-series A funding round, led by Blume Ventures and Exfinity Venture Partners, among others. The round mainly focussed on manufacturing and deployment of a large fleet of autonomous vehicles in factories and warehouses, in both domestic and global markets.

In 2023, Ati Motors announced the completion of its Series A funding round, raising $10.85 million. The round was led by True Ventures.

Shankar Chandran of Walden Catalyst Ventures said that the company’s unique blend of AI and robotics expertise, while NGP Capital’s Upal Basu praised its ability to deploy fully autonomous mobile robots across diverse settings.

The funding comes as investors in India increasingly focus on the expanding manufacturing segment. It positions Ati Motors to tap into the rising demand for robotics in manufacturing, a sector seeking effective automation solutions for real-world applications.