Starship Technologies raises $40 million in Series A funding round
Category: #business  By Saipriya Iyer  Date: 2019-08-22
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Starship Technologies raises $40 million in Series A funding round

The ambitious aim of the company is to deploy robots at 100 schools within the next two years.

Starship Technologies, a company that specializes in developing self-driving delivery robots, has reportedly announced that it has raised $40 million in Series A funding, totaling overall funding to $85 million. The company has invented the kind of rolling autonomous sidewalk delivery robots. Till now, it has created over 100,000 commercial deliveries on behalf of consumers.

Apparently, in June 2018, Starship had declared an additional $25 million. In the meantime, the company also had been experimenting its first university deployment. Now, it has plans to expand to 100 university campuses over the coming two years on the basis of the potency of the trial.

Lex Bayer, CEO, Starship Technologies, reportedly stated that when he came on board, the company was testing a whole bunch of different go-to-market strategies. The company was testing university campuses, grocery delivery, industrial campuses, corporate campuses, and it has actually experienced great traction on most of these environments, he further added.

Reportedly, the vertical focus of Starship is on post-secondary schools which must have recently seen Starship robots deployed at the University of Pittsburgh, and Purdue University in Indiana will witness soon, with many more to follow. The ambitious aim of the company is to deploy robots at 100 schools within the next two years.

Supposedly, Starship is going to use the latest funding in pursuit of the expansion of robot delivery to over 100 schools. The market appetite is strong, and it is a way to show that the robots can work in all kinds of environments, in and among campuses which intermingle seamlessly with public city streets and sidewalks. Additionally, the student population has proven to be the ideal initial customer base.

The funding round of Starship was led by Morpheus Ventures. The round included current investors such as Matrix Partners, Shasta Ventures, MetaPlanet Holdings and more. The new investors like Qu Ventures, TDK Ventures, and others, also participated in the funding round.

Source links: https://techcrunch.com/2019/08/20/starship-technologies-raises-40m-crosses-100k-deliveries-and-plans-to-expand-to-100-new-universities/

https://www.therobotreport.com/starship-technologies-raises-40m-expands-campus-services/

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About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

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