Embotech Raises CHF 23.5M in Funding

Embotech, a Zurich, Switzerland-based innovator in autonomous driving solutions for industrial logistics, received 23.5m CHF (~$27m USD) in Series B funding.

The round was led by Emerald Technology Ventures and Yttrium, with participation from BMW i Ventures, Nabtesco Technology Ventures, Sustainable Forward Capital Fund, RKK VC and existing investors.

The company intends to use the funds to scale its Automated Vehicle Marshalling (AVM) and Autonomous Terminal Tractor (ATT) solutions in Europe, and in the United States, Middle East, and Asia.

Led by Andreas Kyrtatos, Embotech is a provider of cutting-edge autonomous driving solutions for logistics, with a focus on Automated Vehicle Marshalling (AVM) in passenger car factories and Autonomous Terminal Tractors (ATT) at port terminals and logistic centers. The company delivers safe and reliable autonomous transportation by leveraging the real-time optimization technology it has been developing since 2013. 

Embotech has already secured landmark multi-year rollout contracts for its AVM solution in finished vehicle logistics and its ATT solution for port and yard logistics applications.

For its AVM business, Embotech has signed a multi-year contract with automaker BMW to install its solution in six passenger car factories worldwide by the end of 2025. With the rollout ongoing since late 2023, the technology is already driving hundreds of cars per day through final production and is set to scale up to several thousands of vehicles per day in early 2025. The solution is already operational in BMW’s Dingolfing and Leipzig plants with Regensburg currently in progress. By the end of 2025, the technology will also be operational at BMW’s plant in Spartanburg, South Carolina.

For its ATT business, Embotech is advancing for a major rollout in the port of Rotterdam in the Netherlands, with 30 units set to be deployed over the next 2 years. The electric ATTs are equipped with Embotech’s Level 4 Autonomous Vehicle (AV) Kit, which enables them to operate autonomously in complex, mixed traffic situations. Embotech’s autonomous tractors use a combination of LIDAR, cameras, and GPS to detect obstacles in all weather conditions and achieve localization accuracy of less than 5 cm. Following testing, which validated the reliability and safety of the technology in the 24/7 port environment, the ATTs are now poised for deployment, enabling seamless horizontal transport of containers across transfer points within the port environment.      

FinSMEs

12/12/2024