Cartken, a company specialising in artificial intelligence (AI) and computer vision-powered autonomous delivery robots, has announced the closure of $22.5m (€20.9m) in aggregate funding.
The latest financing round contributed $10m, led by 468 Capital and supported by a consortium of investors including Incubate Fund, LDV Partners, and Vela Partners.
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The round was also joined by mobility technology companies such as Magna International, Mitsubishi Electric, Shell Ventures, and Volex.
The German company intends to use the funding to expand partnerships with enterprises, enhance self-driving technology, as well as advance industrial automation and last-mile delivery.
Instead of expensive LIDAR systems, the hardware-agnostic software platform of Cartken uses low-cost, commoditised sensors and cameras.
This technology is said to allow for safe operation around pedestrians and vehicles, integrating into various environments.
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By GlobalDataSet up in 2019, Cartken’s reach extends to major sectors in the US, Germany, Denmark, and Japan, and includes full integration with delivery platforms such as Uber Eats and GrubHub.
Cartken co-founder and CEO Christian Bersch said: “This investment accelerates Cartken’s path towards a future where self-driving technology is ubiquitous across most transport applications.
“Our mission is to make this new technology accessible to companies across industries, so they can automate their operations, improve productivity, and ensure employee safety.”
468 Capital partners Bernhard Janke and Bardo Droege said: “Cartken’s approach to autonomous navigation systems is set to revolutionise industrial automation and last-mile delivery.
“We are thrilled to support a team that combines deep technical expertise with a clear vision for the future of autonomous unmanned vehicles for and out of Europe. We believe that Cartken’s approach gives us a clear glimpse into the future.”
Most recently, the company launched operations in Tokyo, Japan, in collaboration with Uber Eats and Mitsubishi Electric.
