Embotech has secured fresh capital of 23.5 million Swiss francs in a Series B financing round. According to a press release, the investment round was led by the Zurich-based Emerald Technology Ventures and Yttrium from Munich, with BMW iVentures, Nabtesco Technology Ventures, RKK VC and the Sustainable Forward Capital Fund all also participating alongside existing investors.
“This investment brings an incredible group of new investors on board”, comments Embotech CEO Andreas Kyrtatos. “It enables us to expand our global presence and deliver leading-edge technology, empowering industrial logistics to transition towards a safer, more efficient, and sustainable future”.
The financing raised is to be used to support the expansion of autonomous driving solutions for global logistics. Embotech has already concluded multi-year rollout contracts for its AVM (Automated Vehicle Marshalling) solution in finished vehicle logistics and its ATT (Autonomous Terminal Tractor) solution for port and yard logistics applications. Founded as a spin-off from the Swiss Federal Institute of Technology in Zurich in 2013, the company claims to be the only supplier with a certified AVM solution and with experience in a production environment.
Following a successful test phase, Embotech has signed a multi-year contract for its AVM business with the automotive manufacturer BMW to install its solution in six passenger car factories worldwide by the end of 2025. In actual fact, it is already in use at three such plants.
In terms of its ATT business, Embotech is preparing for rollout at the port of Rotterdam, which is the largest in Europe. Here, 30 ATT units are to be deployed over the next couple of years to facilitate the horizontal transport of containers. ce/mm
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