Embotech secures 23.5 million Swiss francs

Embotech has raised fresh capital of 23.5 million Swiss francs in a Series B financing round. According to a press release, the investment round was led by Zurich-based Emerald Technology Ventures and Yttrium from Munich. BMW iVentures, Nabtesco Technology Ventures, RKK VC and the Sustainable Forward Capital Fund as well as existing investors have also participated.

"This investment brings an incredible group of new investors on board," says CEO Andreas Kyrtatos. "It will allow us to expand our global footprint and deliver cutting-edge technology that will enable industrial logistics to manage the transition to a safer, more efficient and sustainable future."

The funds received will be used to expand autonomous driving solutions for global logistics. Embotech has already concluded multi-year rollout contracts for its AVM (Automated Vehicle Marshalling) solution in finished vehicle logistics and its ATT (Autonomous Terminal Tractor) solution for port and shipyard logistics applications. Founded in 2013 as a spin-off of the Swiss Federal Institute of Technology in Zurich, the company claims to be the only provider with a certified AVM solution and experience in a production environment.

Following a successful test phase for its AVM business, Embotech recently signed a multi-year contract with car manufacturer BMW to install its AVM solution in six plants by the end of 2025. It is already in use in three of them.

For its ATT business, Embotech is preparing for a launch in the port of Rotterdam, the largest in Europe. Over the next two years, 30 autonomous tractor units are to be deployed there for the horizontal transportation of containers. ce/mm