OTTO Motors
Industrial autonomous mobile robot business of Clearpath Robotics in Ontario, owned by Rockwell Automation since October 2023.
OTTO Motors is the industrial division of Clearpath Robotics, which was founded in 2009 and is based in Kitchener, Ontario; Rockwell Automation's release placed the company in Waterloo, Ontario. Clearpath first sold robots to research and development customers and launched the OTTO Motors division in 2015. Today OTTO sells autonomous mobile robots for factory and warehouse material handling, including the OTTO 100, 600, 1200 and 1500 and the OTTO Lifter, together with OTTO Autonomy and OTTO Fleet Manager software. Clearpath raised 14 million Canadian dollars, which it gave as 11.2 million US dollars, on 18 March 2015 in a round led by RRE Ventures with iNovia Capital, which it later called its Series A. On 5 October 2016 it closed a 30 million US dollar investment led by iNovia Capital with Caterpillar Ventures, GE Ventures, Eclipse Ventures, RRE Ventures and Silicon Valley Bank to grow OTTO. Rockwell Automation agreed to buy Clearpath on 5 September 2023, paying with proceeds from the sale of its PTC stake, and completed the deal on 2 October 2023 without disclosing the price. Clearpath and OTTO now report to Rockwell's Intelligent Devices segment. Co-founder Matt Rendall led the company as chief executive.
- Latest funding
- $30M
- Total funding
- $30M
- Latest valuation
- —
- Founded
- 2009
- Country
- Canada
- Oct 5, 2016Venture round (unnamed)$30M
- Mar 18, 2015Series A—Led by RRE VenturesiNovia Capital