Congratulations to our alumni at Otto Motors, a division of Clearpath Robotics, who announced an additional $29 million (USD) Series C funding raise June 1st - led by the Kensington Private Equity Fund Private Equity Fund with participation from BMO Capital Partners, Export Development Canada (EDC), and previous investors iNovia Capital and RRE Ventures. This raise adds to the $54 million (USD) previously raised, for a total of $83 million (USD) in funding.
The company is run by University of Waterloo’s Mechanical and Mechatronics Engineering alumni who met at the University and continue to partner with the University. Clearpath Robotics is a major supporter of University of Waterloo Engineerng – it provides co-op opportunities, careers, sponsors and judges Mechatronics Capstone Awards (YouTube). and works closely with Robohub.
Mechanical and Mechatronics Alumni
OTTO Motors: Matt Rendall (Class of 2008), CEO and Co-Founder, Bryan Webb (Class of 2009), Chief Operating Officer, Ryan Gariepy (Mechatronics Class of 2009 and Mechanical Class of 2011), Chief Technology Officer and Co-Founder. Photo source: https://ottomotors.com/team
OTTO Motors enables the world’s largest companies to create safer and more productive workplaces with autonomous material handling. This funding is slated to be used to expand OTTO’s global network of delivery partners and accelerate its product roadmap for enterprise customers with emphasis on its industry-leading autonomous technology.
Fleet of OTTO 100s at a Fortune 500 consumer goods manufacturing facility