Venti Technologies, a Boston and Singapore-based company that provides autonomous logistics solutions for global supply chain and industrial hubs, announced that it secured $28.8 million in Series A financing.
The round was led by LG Technology Ventures, the Silicon Valley-based venture capital arm of the LG Group, with participation from Safar Partners, UOB Venture Management, and existing investors Alpha JWC and LDV Partners.
The funds will be used to accelerate Venti's growth and meet increasing demand from customers worldwide.
“With this new round of funding, we are well-positioned to broadly deploy our autonomous logistics solutions to power safer and more efficient global supply chains and industrial yards,” said Heidi Wyle, Founder, and CEO. “Our autonomous vehicles have industrial-grade precision in everyday operating environments and are already successfully in use. We have the potential to revolutionize goods transportation and are excited to be working with partners around the world to make this vision a reality.”
Venti’s full-scope autonomy solutions require no change to existing infrastructure and work with any vehicle in any logistics or industrial hub.
Company: Venti Technologies, Inc.
Raised: $28.8M
Round: Series A
Funding Month: March 2023
Lead Investors: LG Technology Ventures
Additional Investors: Safar Partners, UOB Venture Management, Alpha JWC, and LDV Partners
Company Website: https://www.ventitechnologies.com/
Software Category: Autonomous Logistics Solutions
About the Company: Founded in 2018 by Dr. Heidi Wyle, Dr. Xinxin Du, Daniela Rus, and Saman Amarasinghe, Venti Technologies is a world leader in autonomous logistics for the global supply chain and industrial hubs. The company focuses on heavy logistics yards and hubs, including ports, airports, factories, and warehouses. Using mathematical modeling, deep learning, and theoretically-grounded algorithms, Venti has developed a broad proprietary platform of autonomy technologies, including a suite of powerful logistics algorithms. Venti currently has autonomous systems deployed in Asia for industrial and logistics applications, as well as a growing pipeline in the global supply chain logistics marketplace.
Source: https://www.ventitechnologies.com/2023/03/28/venti-technologies-announces-28-8-million-series-a-funding-to-automate-global-logistics-and-industrial-hubs/