Venti Technologies, a Boston, MA-based provider of safe-speed autonomous logistics systems, raised approximately $8m in seed funding.
The round was led by LDV Partners and Alpha JWC Ventures. Representatives of the two lead investors, Lake Dai, Partner, LDV Partners , and Chandra Tjan, co-founder and General Partner, Alpha JWC, joined the Venti Board.
The company intends to use the funds to produce AI-enabled autonomous logistics transport, including fulfilling new and existing customer agreements with PSA Corporation, a global ports operator with 60 ports under management; automotive manufacturers including SAIC Volkswagen and SAIC-GM; a large automotive logistics provider, SAIC Anji Logistics Tech, and Seedland, an Asian real estate developer and operator.
Led by Heidi Wyle, Ph.D., Founder and CEO, Venti provides tug-trailers for goods movement in manufacturing yards, warehouses, and logistics hubs, self-driving prime movers for the transport of shipping containers, and small luxury community transports. Its deep-learning-powered autonomy operating system (OS) powers vehicles from the company’s manufacturer partners and brings a rapid ability to combine its OS with nearly any combination of sensors and chasses. The technology combines innovation in computer science, artificial intelligence and transportation for driverless vehicles in safe speed applications including, ports, airports, factories, warehouses, mining, agriculture and communities.
The company was founded by Dr. Wyle, along with Daniela Rus, Ph.D., Director of the MIT Computer Science and Artificial Intelligence Laboratory, the Andrew and Erna Viterbi Professor of Electrical Engineering and Computer Science at MIT, and a MacArthur Fellow, and Saman Amarasinghe, Ph.D., a Professor of Electrical Engineering and Computer Science at MIT, as well as Xinxin Du, Ph.D.