Autonomous mobility startup Ottonomy raised $3.3 million in seed led by pi Ventures where Connetic Ventures, Branded Hospitality Ventures and Addverb Technologies’ Sangeet Kumar with other angel investors spread across the US, India, Singapore, Middle-East and Europe also participated.
Ottonomy creates autonomous robot fleets primarily for contactless delivery. The funding will be used to scale production and strengthen its presence in North America, Europe, and the Middle East. It will also use the proceeds to increase hiring across key verticals in India and the United States. According to a report, the global robotics technology market was worth $62.75 billion in 2019 and is expected to grow to $189.36 billion by 2027 at a CAGR of 13.5% between 2020 and 2027.