The Globe and Mail: Otto Motors, Ontario-based maker of autonomous vehicles for factories, raises US$29-million

Otto Motors, a division of AC grad Clearpath Robotics Inc., builds squat but agile battery-powered, pallet-sized vehicles that autonomously transport loads of as much as 1,500 kilograms at two metres per second to assembly lines.

June 2, 2020
'Now we’re planning to expand to a much larger audience globally,' Clearpath Robotics chief executive Matthew Rendall said. 'We have an audacious goal to put an Otto in every factory in the world.'

A Waterloo, Ont., robot company whose autonomous vehicles carry materials around factory floors has raised US$29-million in a financing led by Canada’s Kensington Private Equity Fund.


Otto Motors, a division of Clearpath Robotics Inc., builds squat but agile battery-powered, pallet-sized vehicles that autonomously transport loads of as much as 1,500 kilograms at two metres per second to assembly lines.


Clearpath chief executive Matthew Rendall said the funding for Otto – also backed by Bank of Montreal Capital Partners, Export Development Canada and past investors iNovia Capital and RRE Ventures – will help the division scale up after two years of “tuning and tweaking the product and service offering.”


Otto has deployed about 100 vehicles – some with self-loading hydraulic lifts – to dozens of customers across North America, including Nestlé SA, General Electric Co. and Toyota Motor Corp.

Vehicles list for as much as US$100,000, while full system installations with docking and charging stations run into the millions.


“Now we’re planning to expand to a much larger audience globally,” Mr. Rendall said. “We have an audacious goal to put an Otto in every factory in the world.”


Read more



Ready to Apply?

Our team is comprised of world-class mentors and specialists that drive our startups to success. If your passionate about the technology, the startup community we would love to hear from you!