Ten million Swiss francs for Embotech

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17.12.2021

Embotech, a pioneer in software for autonomous systems for commercial and passenger vehicles and smart factories, has closed CHF 10 million in Series A funding, raising its total capital to CHF 17 million. The capital will accelerate the deployment of automation systems and solutions in factory grounds, logistics and mining.

ZF Friedrichshafen AG, a globally active technology group and supplier of systems for mobility in passenger cars, commercial vehicles, and industrial technology, led the series A round. New investors such as the South Korean VC FuturePlay and angel investors such as Emilio Frazzoli, ETH professor and entrepreneur, co-founder of nuTonomy, along with existing investors, including Bystronic AG, leading investments in Embotech’s Industrial Automation business unit, also participated in the round.

Embotech is now well-positioned to scale its automation software for commercial and passenger vehicles and robotics on private grounds such as distribution centers, ports, car factories, mines and smart factories.

Operations on private grounds still rely largely on manned, diesel-powered vehicles, with all their inherent shortcomings such as the unavailability of suitable labour and the ever more excessive carbon footprint. Gated areas, such as distribution centers and ports with high volume and 24/7 operations are particularly vulnerable to these problems. Embotech’s solution is autonomous, fully electric and digitally integrated vehicles that can perform all driving tasks from dock to loading bays, and then charge themselves as needed.

Few companies worldwide can offer both an L4 autonomous system for private grounds combined with robotics for autonomous charging. Embotech is one of them”, Andreas Kyrtatos, CEO of Embotech.

With the seed and post-seed rounds in 2017 and 2018, the Embotech team has grown to 45 people while developing its core software products, FORCESPRO, a state-of-the-art mathematical optimization engine and basis of all other Embotech products PRODRIVER, its virtual driver software. This technology has received multiple awards and nominations in the past few years. Most recently, it won the Swiss Technology Award 2021.

The Series A funding will be used to grow the team further – by 50% in the next two years – to robustify Embotech’s existing software products and further develop full L4 autonomy systems for gated areas together with key partners. The startup is currently putting L4 systems into serial production for car OEM factory logistics starting production in mid-2022, in mining with 24/7 autonomous operations since late 2020 and in logistics yards starting production at end of 2022.

Partnership with ZF
Embotech and ZF have signed a joined partnership agreement to build to develop complementary products and technologies to create a reliable and global Transportation-as-a-Service TaaS) solution and an intelligent Automated Cruise Control with predictive energy management functions. With its broad technology and product portfolio and global presence, ZF is poised to accelerate the growth of Embotech.

“Our collaboration with Embotech is a continuation of ZF’s ‘Next Generation Mobility’ strategy”, said explained Philipp Helmich, Vice President of Vehicle Dynamics and Controls & Autonomous Driving with ZF’s Commercial Vehicle Control Systems division.

(Press release/RAN)

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