Otto Motors raises US$29m for autonomous robots

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Otto Motors has raised US$29m in Series C funding to develop its autonomous mobile robot platform (AMR).

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.

The funding will be used to expand Otto’s network of delivery partners and further develop its products.

Otto Motors is a division of Clearpath Robotics. Clearpath CEO and co-founder Matthew Rendall said mobile robots are a necessity in the warehouse, and AMRs will improve worker safety and supply chain resilience.

He said, “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.”

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