Philadelphia, USA-based autonomous mobility company, Burro closed Series B funding with USD 24 million. New York City-based growth equity firm Catalyst Investors and Translink Capital co-led the financing for the company. Meanwhile, existing investors S2G Ventures, Toyota Ventures, F-Prime Capital, and Cibus Capital joined in the funding.
As part of the deal, Brian Rich, managing partner with Catalyst Investors, and Kaz Kikuchi from Translink Capital have plans to join the company’s Board.
Purpose of financing for Burro
Burro has plans to expand its commercial, product and engineering teams. It has plans to bring on more dealers. Meanwhile, the company seeks to launch new products in direct response to customer demand, beginning with its new product offering: Burro Grande.
What the Burro official has to add
Charlie Andersen, CEO of Burro, said, “Robots have long been stuck in warehouses and factories, and few robotics companies have successfully scaled outdoors into industries like agriculture, nurseries, and construction, where trillions of dollars are spent annually on labour. We have built a world-class product based upon state-of-the-art autonomous AI technology, and with this funding, we will deliver solutions for real-world problems, distributed worldwide through our network of dealers. With the incredible teams at Catalyst Investors and Translink Capital and their strong track records of growing businesses, we are well on our way.”
What the investors have to comment
Brian Rich, the managing partner at Catalyst Investors, said, “What sets Burro apart among the robotics sector is the team’s brilliant vision for augmenting – not replacing – labour with machines that work safely and reliably outdoors alongside humans, exponentially increasing efficiency and production. The Burro approach is already proven and its ROI demonstrated for farms and nurseries, perfectly positioning them to become the dominant outdoor robotics company for various industries and uses.”
Kaz Kikuchi, partner at Translink Capital, further added, “At Translink, we really like companies in the autonomy and robotics sector. We are especially excited about how Burro has brought automation to the agriculture sector. With their unique approach, Burros can work year-round, combatting the innate seasonality of work outdoors, by operating in a variety of crops and performing multiple tasks with one platform. Burro is positioned to be the first robotic company to successfully scale in agriculture and other outdoor environments.”
About Burro
Charles Andersen, Deniz Ilhan, Terry Scott, and Vibhor Sood launched the company in 2017. Burros are Disney’s Wall-E for agriculture and work outdoors, in a 1.0 format. They function, today, as people/pallet scale autonomous ground vehicles for carrying, towing, patrolling, and mowing, and are designed to lay the base for the fully autonomous future of work outdoors.
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