Ottonomy.IO has announced the close of their seed funding round of $3.3 million, bringing its total funding to date to $4.9M. The funding round is led by pi Ventures who back deep tech startups. Connetic Ventures and Branded Hospitality Ventures and the Founder and CEO of Addverb Technologies, Sangeet Kumar, also joined this round; making the group a dynamic mix from retail, food and robotics industry investors for Ottonomy’s seed round.
Ottonomy.IO will use the capital to scale production and build capacity to address the current pipeline of customers, expand its team size and further strengthen their presence across North America, Europe and the Middle East.
Founded in late 2020, by Ritukar Vijay, Pradyot Korupolu, Ashish Gupta and Hardik Sharma, Ottonomy.IO is one of the first robotics companies to develop robots that can navigate completely autonomously in both indoor and outdoor environments, without human assistance. These robots fuse data from 3D Lidar and cameras and use AI to have an understanding of the external world.
Using their High Information mapping of the serviceable delivery areas, the robots autonomously navigate to reach the consumer delivery locations. Once the delivery robot arrives at the doorstep, the customers use the unique QR code sent to them to unlock the hold area and retrieve their order. The robots can be remotely monitored and controlled whenever there is human intervention needed.
“Last mile delivery is the least productive, yet the most expensive part of the delivery chain. There is a strong need for automation, which Ottonomy fulfills with Ottobots,” says Roopan Aulakh, Managing Director, pi Ventures. “Ottobots are equipped with a sophisticated tech stack both at hardware and AI level. The founding team here brings years of multi-functional robotics experience, reflecting in the world class product that they have built and commercialized. We are very excited to make our first investment in robotics and couldn’t have asked for a better team to partner with. ”
Categories: Seed Funds