Ottonomy.IO, a startup working on solving delivery problems using autonomous robots, has raised $3.3 million in a seed funding round as it looks to expand its market and deploy robots to existing customers.
Led by Bengaluru-based Pi Ventures, the latest funding round included participation from Connetic Ventures and Branded Hospitality Ventures. Sangeet Kumar, founder and chief executive of Uttar Pradesh-based Addverb Technologies, also joined the round.
Founded in late 2020 by Ritukar Vijay along with Pradyot Korupolu, Ashish Gupta and Hardik Sharma, New York-headquartered Ottonomy.IO develops robots that feature sensors, including 3D lidar sensors and cameras. The company, which employs about 25 people in the U.S. and India, also writes software and AI algorithms to power the sensors.https://jac.yahoosandbox.com/1.2.0/safeframe.html
“One of the most important problems which we are trying to solve with these autonomous delivery robots is around labor shortages,” said Vijay, who serves as the chief executive of Ottonomy.IO, in an interaction with TechCrunch. He added that due to the labor shortages, there is a substantial increase in the hourly wages of laborers — to $18 to $45 per hour from $9 to $12 — in the U.S.
“So, that’s almost a 100% hike in hourly wages, making it very difficult for enterprise customers to provide the same services to the customers they were given earlier. And what happens at the end is that customers start paying more for deliveries.”
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