Kitchener's Clearpath Robotics will use $30M US investment to build self-driving vehicles

Clearpath Robotics in Kitchener will use a new $30 million US investment to expand their development of self-driving vehicles used inside warehouses.

Clearpath's self-driving vehicles already on the market, CEO says

CEO of Clearpath Robotics Matt Rendall at the Clearpath Robotics warehouse in Kitchener. Clearpath Robotics is a startup company created by four University of Waterloo mechatronics engineering graduates. (Canadian Press)

Kitchener's Clearpath Robotics has secured nearly $40 million ($30 million US) in funding from investors to expand its OTTO Motors division, which focuses on self-driving vehicles used inside manufacturing and warehouse operations.

"Unlike city streets, a factory floor is a controlled environment, which makes it an ideal place to introduce self-driving vehicles at scale. Companies like Google, Tesla and Uber are still testing, whereas our self-driving vehicles are commercially available today," Clearpath co-founder and CEO Matt Rendall said in a release.

The company made the announcement Wednesday morning. The funding comes from iNovia Capital with participation from Caterpillar Ventures, GE Ventures, Eclipse Ventures, RRE Ventures and Silicon Valley Bank.

Self-driving materials handling vehicles

Rendall said the market for self-driving passenger vehicles is anticipated to be more than $80 billion US by 2030.

"We believe the market for self-driving materials handling vehicles will be equally significant," he said. "Clearpath has a big head start, and this new funding will allow us to further accelerate the development of the best self-driving software in the industry – and bring more OTTOs into the world faster."

Michael Young, a director at Caterpillar Ventures, said his company looks forward to collaborating with Clearpath Robotics "to drive efficiency gains in Caterpillar facilities."


To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

Become a CBC Member

Join the conversation  Create account

Already have an account?