Ati Motors, Inc. and its Indian subsidiary, AMIDC Automation Technologies Private Limited have raised $20 million from a Series B fundraise led by Walden Catalyst Ventures, L.P., and NGP Capital, with participation from certain existing investors.
Vaish Associates Advocates acted as the Indian legal Counsel of Ati Motors, AMIDC and the Founder, and advised on the India leg of the transaction, as well as on certain aspects of the US leg of the transaction.
The transaction team consisted of Avik Karmakar (Partner), and Ishita Jha (Associate).
Latham & Watkins LLP acted as the US Counsel for Ati Motors.
Pillsbury Winthrop Shaw Pittman acted as the US Counsel for lead investors Walden Catalyst Ventures, L.P. and NGP Capital.
Ati Motors and AMIDC are engaged in designing, manufacturing and sale of autonomous electric cargo vehicles.
The funds will be utilized to accelerate product development, expand its operations in various geographies including in North America and the Asia-Pacific region, and strengthen its global presence.
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