Estonian robotics startup, 10Lines, specializing in developing and manufacturing autonomous line-marking robots, has successfully raised €1.5 million in Series A funding.
Estonian robotics startup, 10Lines, specializing in developing and manufacturing autonomous line-marking robots, has successfully raised €1.5 million in Series A funding, marking a significant milestone following its Seed round in July 2021.
Established in 2019, 10Lines is at the forefront of revolutionizing road maintenance, aiming to tap into the escalating demand for autonomous line marking solutions.
The company has already made substantial headway in the lucrative US market. With this fresh injection of capital, 10Lines is poised to expedite the advancement of its autonomous robots and software, augment its engineering workforce, and fortify its market presence across the United States.
The core technology employed by 10Lines integrates robotics and AI computer vision, thereby streamlining line marking operations and obviating the necessity for manual intervention, thereby enhancing operational efficiency and cost-effectiveness.
The Series A funding round was jointly spearheaded by prominent investment firms Tera Ventures and Karista, with additional participation from Butterfly Ventures and Mike Oliinyk.
James McDougall, Venture Partner at Tera Ventures, expressed enthusiasm about the innovative strides made by the 10Lines team, stating, “The 10Lines team is carving out its niche in the market with a brilliant amalgamation of AI and Robotics to automate line marking operations. We are thrilled to champion their vision and facilitate the expansion of their offerings not only in Europe but also across the United States.”
Emmanuel Daugéras, investment director at Karista, underscored the unique opportunity presented by investing in 10Lines, emphasizing its pivotal role in the broader space ecosystem. Daugéras articulated, “Investing in 10Lines represents a singular opportunity within the expansive downstream application domain of the space ecosystem. Our investment aligns seamlessly with our strategy of nurturing Space Tech pioneers for the forthcoming decade.”
Daugéras further elaborated on the rationale behind Karista’s investment decision, citing the exemplary expertise of the 10Lines team, which seamlessly combines domain proficiency with a wealth of experience in the software startup realm.
Additionally, the compelling value proposition offered by 10Lines’ solutions, coupled with its robust business model and expansive market potential, underscores the promising trajectory of this investment for Karista.
Robotics startup 10Lines’ groundbreaking advancements in autonomous line-marking robotics not only signify a paradigm shift in road maintenance but also underscore Estonia’s burgeoning reputation as a hub for cutting-edge technological innovation.
With its newfound financial backing, 10Lines is poised to chart new frontiers in the realm of road maintenance automation, heralding a future where precision and efficiency converge to redefine the landscape of infrastructure management.