RoboTire, a Detroit-based automotive robotics and automation startup that promises to revolutionize the tire industry, closed a $7.5 million Series A investment round.
The round was led by The Reinalt-Thomas Corporation, which does business as Discount Tire and America's Tire and is the world's largest independent tire retailer. Automotive Ventures, Detroit Venture Partners, 640 Oxford Ventures, and several angel investors participated in the round.
Company: RoboTire, Inc.
Raised: $7.5M
Round: Series A
Funding Month: October 2021
Lead Investors: The Reinalt-Thomas Corporation
Additional Investors: Automotive Ventures, Detroit Venture Partners, and 640 Oxford Ventures
Company Website: https://robotire.com/
Software Category: Robotics and automation solution
About the Company: RoboTire is a robotics and automation solution that is revolutionizing the way tires are changed. RoboTire automates vehicle maintenance using software, computer vision, and robotics, starting with 10-minute tire replacements. The company was founded in 2018 by Victor Darolfi and is headquartered in San Carlos, California, United States. By bringing innovation to the traditional, RoboTire is transforming the way fleet operators, dealers, and independent service providers look at tire and wheel services.
Source: https://www.prnewswire.com/news-releases/auto-tech-startup-robotire-closes-series-a-round-301395531.html