On March 21, 2019, Avidbots announced the completion of its $31.5 million Series B financing round, to help with the global expansion of its autonomous, floor-cleaning robots. The round was led by returning investor True Ventures with participation of other existing investors including GGV Capital, SOSV, Real Ventures, and 500 Startups Canada, and new investors including Next47, BDC Capital, and KCPL. Avidbots will use the financing to grow its engineering team, expands its product line, and continue to develop its marketing strategy and sales pipeline.
Avidbots, a Kitchener-based robotics company, develops and manufactures autonomous commercial floor cleaning robots.
Osler, Hoskin & Harcourt LLP represented Avidbots with a team led by Chad Bayne that included David Jamieson and Sahil Chopra (Emerging and High Growth Companies).