Robotics maker Avidbots closes $23.6 million Series B round
Kitchener, Ontario-based robotics company Avidbots has secured $23.6 million in a Series B financing. True Ventures, a U.S. venture capital firm, led the round, which brings Avidbots' total funding to $36 million. Joining the deal were existing investors, including GGV Capital, SOSV, Real Ventures and 500 Startups Canada, as well as new investors, including Next47, BDC Capital and KCPL. Founded in 2014 by CEO Faizan Sheikh and CTO Pablo Molina, Avidbots designs and makes autonomous connected robots. Its first product, Neo, is a robotic floor scrubber deployed in commercial locations worldwide. The funds raised will be used for global growth and to invest in talent acquisition, engineering, marketing and sales.
21 March 2019•4 mins read
