Avidbots Receives a New Series C Funding

The manufacturer of the world's most advanced, utterly autonomous robot floor cleaner will utilize the funds to accelerate worldwide expansion and introduce new products to the market.

FREMONT, CA: “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,” says Tony Zhang, partner at Jeneration Capital. “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. As a result, employees can focus on higher-value activities across the organization.” Avidbots, one of the world's best robotics businesses, has secured Series C funding of $70 million USD. Jeneration Capital led the investment, with significant participation from True Ventures, Next 47, SOSV, GGV Capital, BDC Capital, Golden Ventures, and Kensington Capital Partners, who were also prior investors. In the most recent investment round, BMO Capital Partners, Golden Vision Capital, and Nicola Wealth were added as new investors. Avidbots has now raised more than $107 million USD in total funding.

“This is a special milestone in our company’s development. 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,” says Faizan Sheikh, Avidbots CEO and co-founder. “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.”

Avidbots plans to increase its sales and marketing efforts to reach more customers in automation growth regions like the United States and worldwide, increasing its fleet of commercial cleaning robots and add-ons and improving its autonomy software. Avidbots plans to recruit more than 100 product, engineering, sales, and marketing staff within the next 12 months due to the high demand for Neo 2, the company's autonomous floor-scrubbing robot for commercial cleaning.

The Canadian firm has doubled its investment in Kitchener-Waterloo since the funding announcement by leasing more space for research and testing. The new headquarters, located at 45 Washburn Dr. in Kitchener, Ontario, is a substantial improvement, expanding from the current 40,000-square-foot site to a new space with more than 70,000 square feet. The new Avidbot headquarters is suited to hybrid work, including versatile spaces and leisure and rest areas to encourage collaboration among Avidbotters. Avidbots' testing facilities will also considerably expand at the new headquarters.

With the release of its Disinfection Add-On for its Neo 2 robot, Avidbots has improved the quality and capabilities of its autonomous robotic products. Neo, powered by Avidbots Autonomy, comprehends and responds to its working environment, maximizing cleaning productivity while minimizing human interaction. The Avidbots Command Center allows Neo(s) to be managed, monitored, and measured 24/7/365 from anywhere in the world.

Neos is used in high-traffic commercial settings, including education, healthcare, manufacturing, retail, warehousing, airports, and transportation hubs. More than one thousand floor-cleaning robots are currently deployed in more than a dozen countries across North America, Asia, Australia, the Middle East, and Europe.