The new investment will be used by Starship to scale up its operations globally and capitalise on the surging demand for home deliveries.
Starship Technologies has secured $90m in new funding round co-led by Plural and Iconical. With this most recent investment, the company has raised $230m in total since its inception in 2014. Starship is engaged in developing robots that deliver a variety of items directly to customers’ doors.
The funding will support the company’s growth amidst increasing demand for home delivery services, which is particularly evident in the online food delivery market, expected to grow substantially by 2030. Starship said its robots, which can operate for 18 hours on a full charge, are 99% autonomous and capable of safely navigating various obstacles, such as snow and rocky terrain.
Starship Technologies co-founder and CEO Ahti Heinla said, “Building a company like Starship takes at least a decade of perfecting the technology, streamlining operations and reducing costs to make last-mile autonomous delivery viable and sustainable at scale. Now we are ready to take on the world and with ambitions to build a category-dominating company that can change the daily lives of millions of people in thousands of locations worldwide.”
Plural partner Taavet Hinrikus said, “For the past 10 years, the Starship team have been working tirelessly to build the most advanced autonomous logistics technology in the world, driving more miles and making more deliveries than any other company, whilst reducing the impact of last-mile and on-demand delivery on the planet. The culmination of this hard work over the past decade and this new funding means Starship is well-positioned for accelerated growth.”
The new investment will be used by Starship to scale up its operations globally and capitalise on the surging demand for home deliveries. Furthermore, the funds will be used to facilitate advancements in artificial intelligence and machine learning, enhancing the company’s technology and wireless charging infrastructure.
