BOWE GROUP, a leading provider of integrated automation technology announced today an $8.2M investment round in MOV.AI - a startup revolutionizing Autonomous Mobile Robots (AMR) development. The round is led by BOWE GROUP and includes MOV.AI's existing investors State of Mind Ventures, NFX, and Viola Ventures. The investment reflects BOWE’s strategic view of robotics in the future of automation and is a vote of confidence in MOV.AI’s innovative approach to robot software.
“We are excited to have such an innovative leader as BOWE GROUP join our strong group of investors and lead this round,” said MOV.AI CEO Motti Kushnir. “The pressure on supply chains creates an opportunity for AMR manufacturers and automation integrators, who need to develop and deploy robots that meet customer needs quickly. BOWE GROUP is a leader in the world of intralogistics and automation. Their knowledge and expertise will drive forward MOV.AI’s ability to meet customer needs and extend our market reach. We are thankful to our investors – State of Mind Ventures, NFX, Viola Ventures, and now BOWE GROUP – for their ongoing belief in our vision and in our ability to execute it. Their confidence as evidenced in this round is helping us drive change in the market and provide our customers with a much-needed solution.” Following the investment, Joachim Koschier, BOWE GROUP Managing Director, and Mike Swift, Managing Director of Red Ledge North America, will be joining the MOV.AI board of directors. The company will use the proceeds from the round to accelerate product delivery, meet the demands of more customers, and engage with the ROS developer community.