Austin robotics startup Contoro Inc. has raised $13.5 million after winning the SXSW Pitch Award. This funding supports their AI-powered robots aimed at automating and securing warehouse loading processes, totaling $22 million raised thus far. The company plans to expand its operations beyond Texas, reflecting the broader trend of funding successes among Austin-based startups in the tech space.
In a significant milestone, Austin’s robotics startup Contoro Inc. has successfully raised $13.5 million after clinching the Pitch Award at the prestigious South by Southwest Conference and Festival. This funding came from 11 investors, featuring backing from the Amazon Industrial Innovation Fund, and brings the total raised by the company to $22 million, including a previous $8.5 million round from various backers.
Contoro aims to revolutionize the unloading process in warehouses with its innovative AI-powered robots, known as “Dock Duck.” CEO Youngmok “Mok” Yun, who co-founded the robotic stroke rehabilitation startup Harmonic Bionics, is at the helm of this venture. The company is addressing the hazardous task of unloading non-palletized containers, making this work safer with automation.
According to Diganto Choudhury, Contoro’s head of strategy, the team recognized the dangers of warehouse unloading and created a solution that enables robots to autonomously unload shipping containers. Contoro’s operations started locally in Austin, allowing for rapid iteration based on customer feedback, and they are now expanding nationally with significant clients in Southern California and New Jersey.
At this year’s SXSW, Contoro stood out by winning in the robotics category, alongside Polygraf AI, which took home awards in fintech and more. This recognition highlights Austin’s growing reputation as a hub for innovative startups.
Contoro is not alone in securing substantial funding recently. Fellow Austin startup Apptronik received $53 million, led by Mercedes-Benz for its autonomous humanoid robots. Meanwhile, NinjaOne, a platform for IT device management, has raised a whopping $500 million, propelling its valuation to $5 billion, a massive jump from the previous year.
Contoro Inc.’s recent funding showcases the potential of robotics startups in Austin. With a focus on safety and efficiency in warehouse operations, the company’s innovative technology is paving the way forward. Coupled with other successful funding efforts, such as those by Apptronik and NinjaOne, Austin continues to affirm its status as a thriving center for cutting-edge advancements in technology.
Original Source: www.statesman.com
