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OTTO Motors Secures $29M To Sale Self-Driving Robot Platform Globally

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An OTTO Motors self-driving robotClearpath Robotics' OTTO Motors has closed on $29 million in Series C funding to place more of its self-driving robots into warehouses and manufacturing facilities across the world.

Ontario-based OTTO announced the new funding today, June 1. Investors include Kensington Private Equity Investors, BMO Capital Partners, Export Development Canada (EDC) iNovia Capital and RRE Ventures. 

OTTO produces three models of autonomous robots that operate on a proprietary platform for warehouses and manufacturing facilities. Some models can move entire pallets into cross-docked trailers.

Clearpath CEO and co-founder Matthew Rendall said autonomous robots improve the safety of workers and strengthen supply chains "in a post-COVID world." 

"Mobile robots are no longer a luxury in the workplace; they are a necessity," he said in a statement.

OTTO robots already are in service at large companies including Nestle, Toyota and GE. 

OTTO Motors has raised a total of $83 million in funding with the latest Series C.

 

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