![]() ![]() The new headquarters is conducive to hybrid work, featuring multifunctional spaces along with recreational and rest environments to promote collaboration amongst Avidbotters. The new headquarters, located at 45 Washburn Dr, Kitchener, Ontario, is a significant upgrade, expanding from the current 40,000-square-foot location to a new space with more than a combined 70,000 square feet. On the heels of the funding announcement, the Canada-based company has doubled down on its investment in Kitchener-Waterloo by securing additional space to support R&D and testing. As a result, employees can focus on higher-value activities across the organization.” “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. “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. Strong demand for the company’s commercial cleaning, autonomous floor-scrubbing robot, Neo 2, also has Avidbots looking to add more than 100 employees in the areas of product, engineering, sales and marketing within the next 12 months. In addition to expanding its fleet of commercial cleaning robots and add-ons, along with enhancing its autonomy software, Avidbots will use the funding to grow its sales and marketing efforts to bring products to more customers in automation growth markets, such as the United States, and worldwide. #Snappy 70m series ggv software#“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.” A special thank you to all our customers around the world as well as Avidbotters past and present for their tireless efforts to help us get here,” said Faizan Sheikh, Avidbots CEO and co-founder. “This is a special milestone in our company’s development. With this financing, Avidbots has raised more than $107 million USD to date. New investors-BMO Capital Partners, Golden Vision Capital and Nicola Wealth-also joined in the latest funding round. The financing was led by Jeneration Capital, with strong participation from existing investors True Ventures, Next 47, SOSV, GGV Capital, BDC Capital, Golden Ventures, and Kensington Capital Partners. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.KITCHENER, ONTARIO, SEPTEMAvidbots, one of the world’s leading robotics companies, today announced it has raised $70 million USD in Series C funding. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES.ĪNY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. THIS IS NOT A SOLICITATION FOR INVESTMENT. ![]() ![]() PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY.ĬONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. ![]()
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