About Refraction AI
Refraction AI is a company based in Ann Arbor (United States) founded in 2017.. Refraction AI has raised $4.2 million across 1 funding round from investors including eLab Ventures, Pillar VC and Osage Venture Partners. The company has 21 employees as of December 31, 2021. Refraction AI operates in a competitive market with competitors including Changsha Xingshen Intelligent Technology, Yika Zhiche, Marble, LOMBY and Neolix, among others.
- Headquarter Ann Arbor, United States
- Employees 21 as on 31 Dec, 2021
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Sectors
Transportation, Automotive & LogisticsIndustrial Goods & Manufacturing
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Phone
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Website
*********
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Social
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- Legal Name Refraction Ai, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$4.2 M (USD)
in 1 rounds
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Latest Funding Round
$4.2 M (USD), Seed
Mar 08, 2021
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Investors
eLab Ventures
& 6 more
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Employee Count
21
as on Dec 31, 2021
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Funding Insights of Refraction AI
Refraction AI has successfully raised a total of $4.2M through 1 strategic funding round. The most recent funding activity was a Seed round of $4.2 million completed in March 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $4.2M
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First Round
First Round
(08 Mar 2021)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2021 | Amount | Seed - Refraction AI | Valuation | Pillar VC |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Refraction AI
Refraction AI has secured backing from 7 investors, including venture fund and angel investors. Prominent investors backing the company include eLab Ventures, Pillar VC and Osage Venture Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage centric tech-focused VC firm investing in the US
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Founded Year | Domain | Location | |
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Early-stage VC firm investing in the US
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Founded Year | Domain | Location | |
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Early-stage venture capital fund investing in B2B software startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Refraction AI
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Refraction AI
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Refraction Ai Comparisons
Competitors of Refraction AI
Refraction AI operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Changsha Xingshen Intelligent Technology, Yika Zhiche, Marble, LOMBY and Neolix, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI-enabled intelligent delivery robots are provided for logistics applications.
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| domain | founded_year | HQ Location |
Unmanned ground vehicle robots are developed for commercial applications.
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| domain | founded_year | HQ Location |
Autonomous robots are deployed for intra-city deliveries.
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| domain | founded_year | HQ Location |
Last-mile delivery robots and labor-saving solutions are provided.
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| domain | founded_year | HQ Location |
AI-enabled autonomous delivery vehicles are developed for logistics.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Refraction Ai
Frequently Asked Questions about Refraction AI
When was Refraction AI founded?
Refraction AI was founded in 2017 and raised its 1st funding round 4 years after it was founded.
Where is Refraction AI located?
Refraction AI is headquartered in Ann Arbor, United States. It is registered at Ann Arbor, Michigan, United States.
Who is the current CEO of Refraction AI?
Luke Schneider is the current CEO of Refraction AI.
Is Refraction AI a funded company?
Refraction AI is a funded company, having raised a total of $4.2M across 1 funding round to date. The company's 1st funding round was a Seed of $4.2M, raised on Mar 08, 2021.
How many employees does Refraction AI have?
As of Dec 31, 2021, the latest employee count at Refraction AI is 21.
What does Refraction AI do?
Refraction AI provides autonomous robots for last-mile logistics. Its offering includes Rev-1, a 3-wheeled last-mile goods delivery robot for urban areas. It navigates using 12 camera sensors and can operate in the traditional car and bike lanes by moving at a speed of 24 kmh. It can pick up goods from places like restaurants, pharmacies, and grocery stores and deliver them to the customers address. The customer needs to use the received pin code with the robots screen to gain access to the storage compartment and take their respective orders.
Who are the top competitors of Refraction AI?
Refraction AI's top competitors include Yika Zhiche, Marble and LOMBY.
Who are Refraction AI's investors?
Refraction AI has 7 investors. Key investors include eLab Ventures, Pillar VC, Osage Venture Partners, Trucks Venture Capital, and Invest Michigan.
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