Robotic sidewalk delivery company Kiwibot has secured $10m through a financing partnership with asset financing firm Kineo Finance to expand its robotic fleet.
The capital infusion will help Kiwibot scale up its manufacturing capacity as well as expedite its growth in the delivery-as-a-service (DaaS) industry.
Kiwibot co-founder and CEO Felipe Chávez said: “This partnership will take our operations to the next level: We’ll be closer to becoming the standard solution for smart cities that leverage sustainable technology to enhance people’s quality of life. We’re pleased to be backed by companies who believe in building accessible and convenient robotics services.
“We envision a world where technology, logistics and delivery are available for everyone. Kiwibot’s near future looks bright, and we are ready to offer our exceptional delivery services globally.”
Additionally, the financing will help Kiwibot get ‘closer to becoming the standard last-mile delivery service in smart cities’.
Kiwibot’s robots leverage GPS technology, advanced camera sensors and artificial intelligence (AI) to make food deliveries.
Its on-demand delivery service is currently available through apps such as Grubhub and Sodexo’s Everyday.
Kineo Finance provides smart asset financing for start-ups.
Kineo Finance president Charles Sellman said: “Kiwibot’s solution is in high demand in the US and has become indispensable for people leading fast-paced lives. This partnership is the financial push they need to propel their startup into wider markets.
“At Kineo, our goal is to encourage automation and digitalisation initiatives in various industries to drive the adoption of high-tech companies’ equipment. Kiwibot’s growth in the DaaS sector meant it was a logical choice for us to support its robotic deliveries, helping businesses today – and for the future.”
Since its launch in 2017, Kiwibot has built more than 400 robots. It rolled out its first pilot of an automated delivery bot at the University of California-Berkeley campus and currently has a presence at 27 US college campuses as well as in 41 cities across the world.
Last December, Kiwibot rolled out 25 of its automated delivery bots at Loyola Marymount University.