Funding from iNovia Capital, Caterpillar Ventures, GE Ventures and previous investors will expand new Otto Motors division
Clearpath Robotics, a leading provider of self-driving vehicle solutions, announced today the completion of a $30 million investment led by iNovia Capital with participation from Caterpillar Ventures, GE Ventures, Eclipse Ventures, RRE Ventures and Silicon Valley Bank.
Clearpath will use the funding to grow the company’s industrial division, Otto Motors. Clearpath launched Otto Motors in 2015 to focus on self-driving vehicles for material transport inside manufacturing and warehouse operations.
Matt Rendall, CEO and co-founder of Clearpath, says: “Factories operate like small indoor cities, complete with roads, traffic, intersections and pedestrians.
A fleet of Otto self-driving vehicles will automate just-in-time parts delivery within Milwaukee facility
Clearpath, the developer of Otto – a self-driving vehicle designed for material transport, has been selected to automate just-in-time parts delivery in a GE Healthcare repair facility being expanded near Milwaukee, Wisconsin.
Company says new Otto 100 provides light-load material transport for today’s modern factories and warehouses
Clearpath Robotics has expanded its Otto line of self-driving vehicles with Otto 100. The vehicle is designed for autonomous light-load material transport in factories and warehouses.
“The Otto 100 takes the high quality and reliability of the Otto 1500 and puts those advanced capabilities into a smaller form factor,” said Matt Rendall, chief executive officer at Clearpath. “This enables new self-driving services in distribution, e-commerce, and manufacturing.”