Tera Ventures led the investment round to 10Lines
10Lines, the Estonian start-up that has developed autonomous parking lot and road marking robots, has announced a seed round of €700,000 led by Tera Ventures, a venture capital firm investing in early-stage global digital start-ups, with co-investment from US investor Perot Jain.
10Lines has developed technology for parking lot and road marking that will allow operators to replace the existing manual process with an automated solution. The company’s robots can complete line-markings seven times faster than current processes, cutting out exhaustive measuring and pre-marking and significantly reducing the requirement for human oversight, while saving around 1.9 tons of CO2 emissions per robot per year.
10Lines has already started reference projects in Estonia and signed letters of intent with striping companies in the US. The investment from Tera and Perot Jain will allow the company to complete the development and production of its technology, begin scaling the business and bring on additional team members.
10Lines was founded in 2019 by Tarmo Prints, the co-owner of a traditional parking lot marking company in Estonia with more than 10 years experience in the industry, and Janno Paas, an experienced start-up CTO and AI developer.
Tera Ventures was advised by Ellex team in Estonia which was led by Antti Perli and included Merlin Liis-Toomela and Priit Pruks.