Embotech, an innovator in autonomous driving solutions for industrial logistics, has received CHF23.5 million (approximately $27 million) in Series B funding to help the company scale its autonomous tow truck business.
The company calls its solutions “Automated Vehicle Marshalling” (AVM) and “Autonomous Terminal Tractor” (ATT). The plan is to expand in Europe initially, and then in the United States, Middle East, and Asia.
The funding round is led by Emerald Technology Ventures and Yttrium, with additional funds from BMW i Ventures, Nabtesco Technology Ventures, Sustainable Forward Capital Fund, RKK VC and existing investors.
Embotech, short for embedded optimization technologies, has already secured landmark multi-year rollout contracts for its AVM solution in finished vehicle logistics and its ATT solution for port and yard logistics applications. [Read more…] about Embotech receives $27 million in funding to expand its autonomous tow truck business









