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Ati Motors raises USD 3 5 mn funding

Excelsior Correspondent MUMBAI, July 15: Bangalore based all-electric autonomous industrial vehicle maker Ati Motors has raised USD 3.5 million (about Rs 26.12 crore) in a funding round, led by Blume Ventures and Exfinity Venture Partners, among others. The pre-series funding will be deployed for manufacturing and deployment of a large fleet of autonomous vehicles in factories and warehouses, in both domestic and global markets, the company said on Wednesday. Ati Motors had earlier raised a seed fund from Village Global – a Bay Area based-early stage fund backed by some of the world’s most successful entrepreneurs like Bill Gates, Mark Zuckerberg and Jeff Bezos among others, according to the release.

Most Indian IT firms to post high single-digit growth in 2021: Balakrishnan

The year 2021 will be good for India s information technology sector and most of the companies in the space are expected to clock high single digit growth, according to IT industry veteran V Balakrishnan. The former Chief Financial Officer of IT major Infosys said Indian IT companies have handled the COVID-19 very well in terms of transitioning to work-from-home and capturing new business opportunities in the wake of the pandemic. All major global companies wanted to move to Cloud and cut costs, the Partner and Chairman of Exfinity Venture Partners said. That s why big deals are coming and Indian companies are getting a fair share of that , Balakrishnan told PTI.

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