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Avidbots snaps $70M funding to roll out autonomous robots for commercial cleaning

Avidbots team
Image credits: Avidbots

Recent research by Data Bridge Market Research, the cleaning robot market is growing with factors such as increasing demand for automatic cleaning, rising demand for the development of hygienic solutions to disinfect floors, and others. At this point in time, Skyline Robotics raised $6.5M for its world’s first high-rise window washing robot.

In a recent development, Canadian startup Avidbots, one of the world’s leading robotics companies, which makes groundbreaking cleaning robots, has grabbed funding.

Snaps $70M funding

Avidbots based in Ontario has snapped $70 million in Series C funding. The financing round was led by Jeneration Capital along with strong participation from existing investors True Ventures, Next 47, SOSV, GGV Capital (which backed a Mexican fintech unicorn Stori), BDC Capital, Golden Ventures, and Kensington Capital Partners. In addition, BMO Capital Partners, Golden Vision Capital, and Nicola Wealth participated in the round. With this round, the total funding raised by Avidbots accounts for over $107 million.

“This is a special milestone in our company’s development. A special thank you to all our customers around the world as well as Avidbotters past and present for their tireless efforts to help us get here,” said Faizan Sheikh, Avidbots CEO and co-founder. “We are very excited about the future as this financing allows us to accelerate our timelines for bringing new products to market as well as continuously improve our autonomous driving software and service for existing customers to deliver an even better experience and greater value.”

“We are excited to partner with Avidbots as they continue to deliver best-in-class robotic solutions to meet the industry demand for automation in the commercial cleaning marketplace,” said Tony Zhang, partner at Jeneration Capital. “Our investment solidifies the confidence we have in robotics players that deliver strong value-add solutions that lessen employee workload and fatigue levels from laborious work. As a result, employees can focus on higher-value activities across the organisation.”

How will Avidbots use the investment?

Avidbots will use the investment to expand its fleet of commercial cleaning robots and add-ons and enhance its autonomy software, The investment will also be used to grow its sales and marketing efforts to bring products to more customers in automation growth markets, such as the United States, and worldwide. With strong demand for its commercial cleaning, autonomous floor-scrubbing robot, Neo 2, Avidbots plans to add over 100 employees in the areas of product, engineering, sales, and marketing within the next 12 months.

The Canadian company has doubled down on its investment in Kitchener-Waterloo by securing additional space to support R&D and testing. The new headquarters, located Kitchener, Ontario, is a significant upgrade and expands from the current 40,000 square feet location to a new space with more than a combined 70,000 square feet. The new headquarters will also mark a significant expansion to Avidbots’ testing facilities.

Neo 2, the autonomous cleaning robot

Avidbots was founded by Faizan Sheikh and Pablo Molina in 2014. It designs, manufactures, sells, services and supports autonomous cleaning robots that go beyond human potential, achieving many industry firsts. Recently, the company launched the Disinfection Add-On to its Neo 2. Powered by Avidbots Autonomy, Neo understands and reacts to its operating environment and takes action to maximize cleaning productivity while minimising human intervention. The Avidbots Command Center helps manage, monitor and measure Neo(s) from anywhere in the world 24/7/365.

Avidbots’ ground-breaking, fully autonomous floor scrubbing robot, Neo 2, is widely deployed by the world’s leading facilities, including airports, warehouses, manufacturing sites, malls, universities and other commercial spaces worldwide. Now, the company offers comprehensive service and support to customers on five continents. Currently, more than 1,000 robots are deployed in more than a dozen countries throughout North America, Asia, Australia, the Middle East and Europe, cleaning floors for leading organisations.

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