# Avidbots

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/avidbots

- Industry: Consumer Products
- Headquarters: Kitchener, Canada
- Website: www.avidbots.com
- Total disclosed funding: $94M
- Latest round: Series C (Aug 12, 2022)
- Investors on record: 14

## About

Avidbots Corp. designs and manufactures fully autonomous floor scrubbing robots, enhancing cleaning efficiency in commercial settings through advanced AI technology and robotics.Avidbots Corp. is focused on creating autonomous cleaning solutions. Founded in 2014 in Kitchener, Canada, by Faizan Sheikh, Ken Anderson, and Pablo Molina, the company has successfully raised USD 70.00 mn in Series C funding as of August 12, 2022, led by Jeneration Capital, with additional support from various investors. The company's flagship products include the Neo and Neo 2W robots, which cater to markets across North America, Europe, and Asia.Avidbots Corp. specializes in manufacturing fully autonomous floor scrubbing robots, notably the Neo, Neo 2W, and Kas models. These robots are engineered to enhance cleaning productivity by minimizing the need for human intervention while providing consistent and thorough cleaning solutions for various commercial environments. The robots utilize advanced AI software, Avidbots Autonomy, which enables them to map facilities, adapt to real-time changes in their surroundings, and implement optimal cleaning routes. The primary end-use cases include maintaining cleanliness in sectors such as education, healthcare, manufacturing, logistics, and retail, with clients ranging from educational institutions to global corporations like DHL. Avidbots' products are deployed in markets across North America, Europe, and Asia, effectively addressing the cleaning challenges faced by diverse facilities and enhancing operational efficiency.Avidbots generates revenue through a direct sales model, providing its autonomous cleaning solutions primarily to commercial clients. Transactions typically involve the sale of robots along with potential ongoing support services, such as software updates and maintenance. The company's flagship offerings, including Neo and Kas, are marketed as reliable automation solutions capable of significantly reducing labor hours required for cleaning tasks, ultimately enhancing productivity. Pricing structures for the robots may include one-time purchase costs and possible subscription plans for software services, allowing clients to benefit from continuous support. As a B2B company, Avidbots focuses on establishing long-term partnerships with its clients to ensure sustained performance and satisfaction from their robotic cleaning solutions.In August 2022, Avidbots Corp. raised USD 70.00 mn in Series C funding, which will be utilized to accelerate the development of new products and enhance existing software functionalities. The company aims to expand into new geographic regions and is likely to target specific markets in Europe and Asia by 2024, responding to increased global demand for autonomous cleaning solutions. This funding round was led by Jeneration Capital, which will support the company in meeting market needs and expectations.

## Funding rounds

- Series C, Aug 12, 2022, $70M — N47, Kensington Capital Partners, BDC Capital, True Ventures, SOSV, Golden Ventures, BMO Capital Partners, Nicola Wealth Management, Jeneration Capital, Golden Vision Capital, Jiyuan Capital
- Series B, Feb 26, 2019, $24M — N47, Kensington Capital Partners, BDC Capital, True Ventures, 500 Global, SOSV, Real Ventures, Jiyuan Capital
- Seed, Jan 5, 2018 — SOSV
- Seed, Feb 22, 2016 — SOSV
- Seed, May 12, 2014, $0M — SOSV, HAX

## Investors

- SOSV (https://capitalatlas.ai/funds/sosv) — Seed, Series B, Series C
- HAX — Seed
- N47 (https://capitalatlas.ai/funds/n47) — Series B, Series C
- Kensington Capital Partners — Series B, Series C
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series B, Series C
- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Series B, Series C
- 500 Global (https://capitalatlas.ai/funds/500-global) — Series B
- Real Ventures — Series B
- Jiyuan Capital (https://capitalatlas.ai/funds/jiyuan-capital) — Series B, Series C
- Golden Ventures (https://capitalatlas.ai/funds/golden-ventures) — Series C
- BMO Capital Partners (https://capitalatlas.ai/funds/bmo-capital-partners) — Series C
- Nicola Wealth Management (https://capitalatlas.ai/funds/nicola-wealth-management) — Series C
- Jeneration Capital (https://capitalatlas.ai/funds/jeneration-capital) — Series C
- Golden Vision Capital — Series C