Waterloo robotics startup Avidbots secures US $70M
A leading robotics company, developed in partnership with the RoboHub at Waterloo Engineering by two alumni, has raised US $70 million to fuel its growth.
Avidbots, a manufacturer of autonomous floor-cleaning robots for commercial use, was founded in 2014 by Pablo Molina (BASc ’11, mechatronics engineering) and Faizan Sheikh (BASc ’11, mechatronics engineering). Their idea to outsource the dirty work to robots has proved enormously successful; with this latest financing, the startup has raised over US $107 million to date.