Cartken, a developer of AI-powered autonomous delivery robots, has closed an additional $10 million in funding, bringing their total funding to $22.5 million. This latest round was led by 468 Capital, with participation from industry giants such as Magna International, Shell Ventures, Mitsubishi Electric, and Volex.
Back in February, we had also reported about how Skype’s co-founder-led Starship Technologies raised $90M to make delivery robots with 99% autonomy rate even better.
The new funding will be used to support three key initiatives for Cartken:
Deepen enterprise partnerships: Cartken aims to leverage the funding to establish and solidify partnerships with companies across various industries.
Advance self-driving technology: Investment will be directed towards further research and development of Cartken’s core technology – the AI-based autonomous navigation system.
Transform delivery and automation: Cartken seeks to revolutionise industrial automation and last-mile delivery solutions through wider adoption of their autonomous robots.
What problem is the startup solving
Traditional methods of transporting goods within industrial settings and for last-mile delivery are often manual and time-consuming. Cartken’s robots address these inefficiencies by automating these processes. Their robots can navigate both indoor and outdoor environments, making them suitable for a wider range of applications.
“Traditional methods of transporting tools, samples, materials, and parts are not only manual, time-consuming, and physically demanding, but also negatively impacting productivity, employee satisfaction, and safety,” the company states. Existing mobile robots often struggle to transition between indoor and outdoor environments, limiting their usefulness. Cartken’s robots overcome this limitation with their versatile navigation system.
Cost-effective and versatile technology
One of the key differentiators of Cartken’s technology is its use of readily available and affordable sensors and cameras, rather than expensive LIDAR systems typically used in autonomous vehicles. This focus on cost-effective hardware allows Cartken’s robots to be a more accessible solution for a wider range of businesses.
Cartken’s robots are also designed to operate safely alongside people and other vehicles. The system uses computer vision and AI to navigate complex environments and avoid collisions.
Since its inception, Cartken’s robots have completed hundreds of thousands of deliveries, averaging a significant 36,000 deliveries per month in 2023 alone. This automation has resulted in a time savings of over 10,000 hours for employees each month. Cartken currently serves companies in the OEM, biotechnology, pharmaceutical, and chemical sectors across the United States, Europe, and Japan. The company also integrates with popular delivery platforms like Uber Eats and Grubhub.
A recent expansion into Tokyo, Japan, exemplifies Cartken’s global ambitions. The company has partnered with Uber Eats and Mitsubishi Electric to offer its autonomous delivery solutions in the Japanese capital.
Christian Bersch, Co-Founder and CEO of Cartken, highlights the company’s mission to make autonomous delivery technology accessible across industries. “This investment accelerates Cartken’s path towards a future where self-driving technology is ubiquitous across most transport applications,” said Bersch.
Investors in Cartken share the company’s optimism about the future of autonomous delivery robots. Bernhard Janke and Bardo Droege, partners at 468 Capital, the lead investor in this funding round, commented: “Cartken’s approach to autonomous navigation systems is set to revolutionise industrial automation and last-mile delivery… We believe that Cartken’s approach gives us a clear glimpse into the future.”
What we think about the startup
With this additional funding and a proven track record, Cartken is well-positioned to expand its footprint in the industrial automation and last-mile delivery markets. The company’s focus on cost-effective, versatile, and safe technology positions them to play a significant role in the evolving landscape of autonomous delivery solutions.
