Venti Technologies, an autonomous logistics for global supply chain and industrial hubs, announced that it has secured $28.8 million in a Series A financing. The financing round was led by LG Technology Ventures, the Silicon Valley-based venture capital arm of the LG Group, with participation from Safar Partners, UOB Venture Management, and existing investors Alpha JWC and LDV Partners. The funding will be used to accelerate Venti’s growth and meet increasing demand from customers worldwide.
Each year, trillions of dollars of goods pass through global supply chain and industrial hubs – ports, airports, factories, warehouses and depots. These hubs face key challenges such as driver shortages, supply disruptions and safety concerns. Venti’s full-scope autonomy solutions require no change to existing infrastructure and work with any vehicle in any logistics or industrial hub.
After three years of development in one of the world’s largest container ports, the company’s fleets can navigate complex environments and heavy traffic, with unmatched precision and the ability to park 45-foot tractor-trailers accurately down to one inch.
“With this new round of funding, we are well-positioned to broadly deploy our autonomous logistics solutions to power safer and more efficient global supply chains and industrial yards,” said Heidi Wyle, Founder and CEO. “Our autonomous vehicles have industrial grade precision in everyday operating environments and are already successfully in use. We have the potential to revolutionize goods transportation and are excited to be working with partners around the world to make this vision a reality.”
“Venti is solving real-world problems for large customers in huge markets with technology that has proven safe, mature and capable of near-term driverless deployment,” said Anshul Agarwal, Managing Director at LG Technology Ventures. “We are impressed not only by the technology, which is more complete and rapidly able to provide value to end customers, but also by the world-class team.”
