LG backs US, China autonomous logistics start-up

Safar Partners, UOB Venture Management, and existing investors Alpha JWC and LDV Partners also participated. Alpha JWC and LDV provided a USD 8m seed round in mid-2021.

Venti develops autonomous systems for ports, airports, warehouses, factories, depots, among other industrial sites. It claims to offer “full-scope” autonomy services – driving, integrated engineering, and fleet management – that require no change to existing infrastructure and deliver best-in-class safety and operational efficiency.

The company’s technology is said to be able to park a 40-foot-long vehicle with one-inch position accuracy, as well as navigate vehicles even when 45% of the field of vision is blocked. It is also operable at night and in monsoon rain conditions.

“Venti is solving real-world problems for large customers in huge markets with technology that has proven safe, mature and capable of near-term driverless deployment,” Anshul Agarwal, a managing director at LG Technology, said in a statement.

“We are impressed not only by the technology, which is more complete and rapidly able to provide value to end customers, but also by the world-class team.”

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• Topics
• Greater China
• Early-stage
• Industrials
• Technology
• USA
• China
• UOB Venture Management
• Alpha JWC Ventures
• corporate venture capital
• Logistics
• autonomous driving
• shipping