Ambi Robotics Announces $26 Million Series A Funding Led By Tiger Global
Ambi Robotics, the pioneer in simulation-to-reality AI for highly-dexterous robotics, today announced the closing of a $26 million Series A funding round. The investment is led by new investor, Tiger Global Management, and builds on participation from existing investors Bow Capital, Vertex (News - Alert) Ventures US and The House Fund.
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Ambi Robotics founders and CEO. Pictured from left to right: Stephen McKinley, Co-Founder and VP of Operations; Matthew Matl, Co-Founder, and VP, Software; Jim Liefer, CEO; Jeff Mahler, Co-Founder and CTO; David Gealy, Co-Founder and VP of Mechatronics. (Photo: Business Wire)
The new funding comes at a time of significant customer growth and expansions just five months after the company emerged from stealth. The funding round enables Ambi Robotics to scale the team and operations to support rapid deployments of AI-powered robotic systems throughout US supply chain operations. Aditionally, Ambi Robotics will expand its product and customer support offerings as there are now hundreds of warehouse associates across the US working alongside the company's automated sorting systems.
"Ambi Robotics combines cutting-edge AI technology with engaging user interfaces to transform the role of 'item handlers' to 'robot handlers,'" said Jim Liefer, CEO at Ambi Robotics. "With our Series A funding, we will be able to empower more companies to help their associates work harmoniously alongside robots."
"Ambi Robotics has quickly leapt to the front of the pack when it comes to AI robotic piece-picking for parcel sortation and ecommerce fulfillment operations," said Griffin Schroeder, Partner, Tiger Global. "The company is a market leader as a result of its strong team and technology, validated by a robust pipeline of customer growth as the company capitalizes on the vast supply chain and rapidly growing logistics market."?
Ambi Robotics has developed two commercial solutions, AmbiSort and AmbiKit, and is currently expanding its fleet of AI-powered robots across the US with global brands like Pitney Bowes. Powering its highly-dexterous robotics with industry leading simulation-to-reality AI, the company has developed an advanced AI operation system, AmbiOS, that trains algorithms 10,000 times faster than competing solutions. This allows customers to rapidly scale AI-powered robotic systems and successfully sort a vast range of unique items from day one of operation.
Ambi Robotics began generating revenue through commercial deployments in October 2020, installing systems prior to the peak holiday buying season. According to the Pitney Bowes Parcel Shipping Index, released today, US parcel volume grew 37% year-over-year, reaching 20 billion, up from 15 billion in 2019. Looking ahead, Pitney Bowes forecasts US parcel volume will nearly double by 2026, reaching 32 to 39 billion annually.
A record number of warehouse workers will be required to support ecommerce growth. Global brands are seeking assistive-automation to increase throughput and safety for warehouse associates.
About Ambi Robotics
Ambi Robotics is an artificial intelligence (AI) and robotics company developing advanced solutions that scale e-commerce operations to meet demand while empowering humans to work smarter. The company's industry-leading AI operating system, AmbiOS, leverages proprietary simulation-to-reality technology to operate highly-dexterous robotic systems. Founded in 2018, the world's top roboticists, AI researchers, and leading business professionals work together to build the supply chain's most valued systems. The company is located in Emeryville, Calif. For more information, visit www.ambirobotics.com.
About Tiger Global
Tiger Global Management, LLC is an investment firm focused on public and private companies in the global internet, software, consumer and financial technology industries. Since 2003, the firm's private equity business has invested in hundreds of companies, from Series A to pre-IPO, in more than 30 countries. Investments include Facebook, LinkedIn (News - Alert), JD.com, Spotify, Peloton, ByteDance, Instacart, DoorDash, Brex, Sentinel One and Waymo. Tiger Global was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
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