Ex-Tesla team raises $12.5M for supply chain automation
Supply chain automation startup Atomic has secured $12.5 million in funding. The company was founded by former Tesla employees.
Atomic, a startup focused on automating supply chains, has raised $12.5 million in a Series A funding round. The company was founded by former Tesla employees aiming to streamline supply chain management using artificial intelligence.
The company's software simulates various scenarios to recommend optimal inventory levels and locations. The system originated from an internal Tesla solution developed to accelerate Model 3 production in 2018.
Atomic's annual recurring revenue has quintupled since the beginning of the year, with notable clients including DoorDash and HelloFresh. The company has since brought on more former Tesla executives, including Jeff Goodrich as CTO.
"Running a supply chain is like an infinite search space for optimization, and it's constantly changing. AI can play a role in finding the best paths through that forest," said Michael Rossiter, CEO of Atomic.
The funding round was led by Klass Capital and Madrona Venture Group. The company's total funding now exceeds $15 million. Atomic's technology helps clients reduce waste and improve efficiency.