468 Capital
Assembly Line
Cartken Announces $22.5M In Aggregate Funding to Advance AI-based Technology Stack Enabling Autonomous Delivery Robots
Cartken Inc., known for its AI-based autonomy stack, announced that it has closed $22.5 million in aggregate with $10 million in its latest financing round. 468 Capital led the round, with participation from Incubate Fund, deep tech and AI funds LDV Partners and Vela Partners alongside global mobility technology leaders including Magna International, Mitsubishi Electric, Shell Ventures, and Volex.
As the rapid pace of technological advancements continues, the need for efficient, automated solutions in industrial automation and last-mile delivery becomes ever more critical. 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. Existing mobile robot solutions are often restricted to specific environments, struggling with transitions between indoor and outdoor settings. Cartken’s autonomous navigation system removes these limitations, effortlessly navigating diverse environments such as industrial complexes, production facilities, college and office campuses, and neighborhoods.
Cartken’s hardware-agnostic software platform utilizes low-cost, commoditized sensors and cameras instead of expensive LIDAR systems. Cartken’s system enables multiple vehicle types to operate safely around pedestrians and employees, safely sharing walkways and interacting with traffic from cars and other vehicles.