Estonian startup 10Lines, specializing in autonomous parking lot marking robots, has secured €1.5 million in a funding round led by Tera Ventures and Karista, with contributions from Butterfly Ventures and Mike Oliinyk.
Founded in 2019 by Tarmo Prints and Janno Paas, the company has developed technology that automates pavement marking, making it seven times faster than traditional methods.
This investment will help 10Lines enhance its robotic and software capabilities, grow its engineering team, and expand its presence in the U.S. market. By replacing manual line marking processes with its AI-driven solutions, 10Lines aims to significantly increase efficiency and reduce costs in line marking operations.
Words from those involved in this funding round:
“The 10Lines team is creating its own product category with an ingenious application of AI and Robotics to automate line marking operations. We are honored to support their vision and expand their offering to the rest of Europe and the US.”
— James McDougall, Venture Partner at Tera Ventures
“Investing in 10Lines represents a one-of-a-kind opportunity on a large downstream application of the space ecosystem. Our investment is consistent with our strategy towards building Space Tech leaders of the next decade. We were convinced by 10Lines’s professional team, which combines domain expertise and software start-up experience. In addition to the very strong customer benefits provided by the company’s solutions, the solid business model and large potential market size, this makes for a very promising investment for Karista.”
— Emmanuel Daugéras, investment director at Karista
“We are thrilled to be part of 10Lines journey and invest into their cutting edge robotics technology and shaping the future of pavement marking market.”
— Anti Kodar, Venture Partner at Butterfly Ventures
Featured image: Credit: 10Lines
