Clearpath Robotics, a Kitchener, Ontario-based provider of self-driving vehicle solutions, completed a $30m (USD) funding round.
The investment was led by iNovia Capital with participation from Caterpillar Ventures, GE Ventures, Eclipse Ventures, RRE Ventures and Silicon Valley Bank.
The company will use the funds to grow its industrial division, OTTO Motors.
Led by Matt Rendall, CEO and co-founder, Clearpath provides self-driving technology, products and services to over 500 innovative brands in over 40 countries. The self-driving solutions are offered through a research division, Clearpath Robotics, and industrial division, OTTO Motors.
OTTO Motors provides self-driving vehicles for safe and efficient material transport inside factories and warehouses. The vehicles use software and sensors to collaborate with workers and intelligently deliver goods – without modifying facility infrastructure or changing current processes.