Venti Technologies secures $8M in seed round for autonomous mobility for logistics, supply chain and transportation markets
Venti Technologies, a developer of safe-speed autonomous logistics systems, secured approximately $8 million in a seed round funding. The financing round was led by LDV Partners and Alpha JWC Ventures. The investment will further Venti’s production of AI-enabled autonomous logistics transport, including fulfilling new and existing customer agreements with PSA Corporation, a global ports operator with 60 ports under management; automotive manufacturers including SAIC Volkswagen and SAIC-GM; the world’s largest automotive logistics provider, SAIC Anji Logistics Tech; and Seedland, a top Asian real estate developer and operator.
Venti provides autonomous systems such as tug-trailers for goods movement in manufacturing yards, warehouses, and logistics hubs; self-driving prime movers for the transport of shipping containers; and small luxury community transports.
Venti’s proprietary algorithms create powerful processing and fast reaction times, delivering practical advantages:
Handling 30 – 40% change in the environment (compared to 5% for other leading industry players).
Zero blind spots and uncompromised safety.
The system is inexpensive, has a 12 month ROI, and saves customers money every year.
Can operate in a crowd or complex environment – Venti sees every moving and static object, and plots its course for threat detection and avoidance.
The vehicles adapt to complex route conditions and can operate in unstructured and structured road environments.
The vehicles can do a five-point turn, a three-point turn, back up, and get out of tight situations.
Venti’s deep-learning-powered autonomy operating system (OS) powers vehicles from the company’s manufacturer partners and brings a rapid ability to combine its OS with nearly any combination of sensors and chassis.
Representatives of the two lead investors—Lake Dai, Partner, LDV Partners; and Chandra Tjan, co-founder and General Partner, Alpha JWC—are joining the Venti Board, expanding it to five members.
Founded by Dr. Heidi Wyle, along with Daniela Rus, Ph.D., Director of the MIT Computer Science and Artificial Intelligence Laboratory, the Andrew and Erna Viterbi Professor of Electrical Engineering and Computer Science at MIT, and a MacArthur Fellow, and Saman Amarasinghe, Ph.D., a Professor of Electrical Engineering and Computer Science at MIT, as well as Xinxin Du, Ph.D., Venti Technologies uses rigorous mathematical modeling and theoretically grounded algorithms to ensure safety, reliability, cost-effectiveness and top performance.
The technology combines innovation in computer science, artificial intelligence and transportation for driverless vehicles in safe speed applications including, ports, airports, factories, warehouses, mining, agriculture and communities.