Avidbots Cleans Up With $70M in Series C Funding to Bring Autonomous Robots to Market

Avidbots, which makes a robotic floor cleaner, plans to accelerate its global expansion with the investment.

Business Wire

Avidbots' Neo cleaning robot and software are operating in public spaces such as shopping malls.
Avidbots, whose Neo cleaning robot works with the Avidbots Autonomy software and the Avidbots Command Center, is expanding R&D and staff in Canada and sales worldwide.

Autonomous mobile robots are rolling out for more functions and locations worldwide. Avidbots Corp. yesterday announced that it has raised $70 million (U.S.) in Series C funding. The Kitchener, Ontario-based cleaning robot maker said it plans to use the funding to expand its sales and marketing efforts worldwide.

“This is a special milestone in our company’s development,” said Faizan Sheikh, co-founder and CEO of Avidbots. “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.”

Founded in 2014, Avidbots has developed the Neo commercial floor-scrubbing robot, which it said is deployed around by leading facilities and building service companies. The company said it offers comprehensive service and support to customers worldwide.

Avidbots upgrades space, continues developing robots

Avidbots has continued to develop and expand the capabilities and quality of its autonomous robots, most recently with the launch of 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 minimizing human intervention.

The Avidbots Command Center helps manage, monitor and measure the mobile robots from anywhere in the world 24/7/365.

Today, various high-traffic commercial environments, such as in education, healthcare, manufacturing, retail, warehousing, and airports and transit hubs, are using the Neo. Currently, more than 1,000 cleaning robots are deployed in more than a dozen countries throughout North America, Asia, Australia, the Middle East, and Europe.

Avidbots has secured additional space to support research and development. Its new headquarters at 45 Washburn Dr. in Kitchener, Ontario, will expand from the current 40,000-sq.-ft. location to more than 70,000 sq. ft. combined.

The new facility will conducive to hybrid work, featuring multifunctional spaces along with recreational and rest environments to promote collaboration, said Avidbots. It will also include a significant expansion to Avidbots’ testing facilities.

Venture capital to support additional staff 

Jeneration Capital led Avidbots' Series C round, with participation from existing investors True Ventures, Next 47, SOSV, GGV Capital, BDC Capital, Golden Ventures, and Kensington Capital Partners. New investors included BMO Capital Partners, Golden Vision Capital, and Nicola Wealth.

With this financing, Avidbots has raised more than $107 million USD to date.

“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 organization.”

Avidbots said it plans expand its fleet of commercial cleaning robots and add-ons, as well as enhance its autonomy software. The company also said it will use the funding to to bring products to more customers in automation growth markets, such as the U.S.

As a result of strong demand for Neo 2, Avidbots is looking to add more than 100 employees in the areas of product, engineering, sales, and marketing within the next 12 months.

Avidbots announced it has raised $70 million USD in Series C funding.

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Business Wire

Avidbots' Neo cleaning robot and software are operating in public spaces such as shopping malls.

Robot Technologies