To help the Academy of Robotics go through production over costs rapidly changing, the company began a funding round to raise £70,000.
In order to achieve this, the electric autonomous vehicle company reached out to existing investors, asking them to help close the funding gap.
In less than six hours, the funding round received pledges for over 100,000 from half a dozen investors. Within 24 hours, pledges reached nearly half a million!
The founder of the Academy of Robotics, William Sachiti, turned down an additional £500,000 offered in funding. This was because of investments quickly coming in.
Following the funding round, the firm then began designing its new autonomous delivery vehicle Kar-Go it believes will “shake-up” the delivery market because of its low cost for consumers.
Kar-Go is designed to autonomously drive on unmarked roads such as residential areas by incorporating driverless vehicle technology and a combination of advanced robotics.
For more complex logistics environments, the Academy of Robotics has also designed its own vehicle chassis and proprietary software.
Written by Leah Alger