Ottopia announces $14.5M Series A Funding Round

TEL AVIV, Israel, Jan. 10, 2023 /PRNewswire/ -- Today, Ottopia announced that it has raised $14.5 million in its Series A funding round. It includes participation from ComfortDelGro, one of the world's largest public transport companies, AI Alliance Fund, and existing investors such as MizMaa Ventures, IN Venture and Next Gear Ventures. This marks the largest Series A in the history of teleoperation companies.

Ottopia's mission is to enable autonomy in multiple industries such as mobility, logistics, freight, last-mile delivery, agriculture, and construction. Its teleoperation software enables autonomous vehicles and machines to do things they otherwise cannot, while allowing their developers to dramatically cut R&D costs, commercialize faster and comply with regulatory requirements for deployment.

With Ottopia's product, humans in a remote center can safely monitor, guide and even directly control fleets of vehicles in a manner that is safe and cybersecure. Ottopia's patented technology is built upon numerous innovations in the domains of networking, video, user experience, cybersecurity, and integration with the autonomous "brain". Their software has been tested and deployed in a variety of environments, making it an essential tool for enabling the widespread adoption of autonomous technology.

"We've always believed in the potential of Ottopia. The team's unwavering dedication and drive have consistently impressed us, and we've been honored to support them every step of the way," said Aaron Applbaum, Partner at MizMaa Ventures. "Ottopia's successful Series A is a triumph that showcases their hard work and vision. They are solving for a key missing link in the future of connected, autonomous everything."

Mr Cheng Siak Kian, MD/Group CEO of ComfortDelGro said: "This investment in Ottopia is an important cornerstone of our future-proofing plans. Having teleoperation capabilities which will enable us to intervene and operate an AV remotely whenever needed, is critical in our future operational plans."

With this new funding, Ottopia plans to accelerate the roll-out of its teleoperation software to fulfill its mission of enabling autonomy in all industries.

About Ottopia  

Ottopia is a software company that enables the commercial deployment of all autonomous vehicles (AVs). Using Ottopia's software, remote humans can solve any challenge that autonomy alone cannot. With Ottopia's technology, major OEMs and AV companies close the performance gap of AVs, cut R&D costs, provide flawless customer experience, and meet regulatory requirements for deployment. For more information about Ottopia, please visit https://ottopia.tech

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SOURCE Ottopia