RoboTire, a Detroit-based Autotech startup, has raised $7.5 million in Series A financing to bring automation and robotics to the tire industry.
The funding round was led by The Reinalt-Thomas Corporation, which does business as Discount Tire and America’s Tire, with the participation of Detroit Venture Partners, Automotive Ventures, 640 Oxford Ventures, and several angel investors. Tom Williams, Chief Experience Officer at Discount Tire, said about the firm’s participation:
“Discount Tire is excited to support RoboTire in the development of new and innovative technologies that drive a better customer experience. As customer expectations around the ‘buy and book online’ experience and our ability to deliver reduced wait times continue to grow, we will continue to pursue automation and enhancements that ensure an inviting, easy and safe experience for all our customers.”
Founded by Victor Darolfi back in 2018, the startup has been aiming to revolutionize the tire industry by designing a system that improves the hour-long experience in changing tires by reducing the time it takes down to under 15 minutes by using robotics. The startup has already achieved patents for its automotive systems, gaining an advantage in an industry where most of its competitors are still waiting. Victor Darolfi, CEO and Founder of RoboTire, referred to the startup’s mission and future by saying:
“This is a pivotal moment for RoboTire and sets us on a path to further transform vehicle maintenance. Our focus is to revolutionize the way tires are changed, and collaborating with Discount Tire—an iconic automotive and tire industry leader—will make our innovative technology more widely available to consumers who need both speed and service as part of their daily lives. We are immensely proud to receive this backing from our investors and know this is just the first turn down a long road to success for our company.”
With timing becoming an increasingly important concern for consumers, the service industry has been looking for ways to apply the latest developments in robotics and automation to improve efficiency. Robotireis now looking to bring this technology to service more than 276 car-owners in America will have to deal with it at some point or another, setting the Autotech startup up for success in the near future.