Venti Technologies, an autonomous vehicle maker for the logistics and supply chain industry, secured $28.8M in Series A funding.
Venti intends to use the proceeds to accelerate its growth and scale production to meet customers' demand.
LG Technology Ventures led the funding round with participation from Safar Partners, UOB Venture Management, Alpha JWC, and LDV Partners.
- Venti has been developing its self-driving technology for commercial vehicles at a port in Singapore.
- It expects to provide self-driving vehicles for ports, airports, warehouses, factories, and depots.
- CEO Heidi Wyle expects to deploy "dozens of self-driving vehicles" this year.
- Wyle added that the technology is "10,000 times simpler mathematically and computationally than downtown San Francisco" due to a lack of pedestrians and other human-driven vehicles.
