Ori Raises $6 Million in Series A Funding to Support Growth
Investment in architectural robotics company to support rapid growth, delivery of initial commercial orders and expansion of team
BOSTON, September 13, 2017-- Ori, Inc., creator of intelligent, responsive systems that enable the elegant and effortless transformation of interior space, announced today that it has raised $6 million in a Series A funding round led by Khosla Ventures to support the company’s rapid growth, delivery of its initial commercial orders and the expansion of its Boston-based team.
Ori combines robotics, architecture and design to unlock a new concept of “programmable spaces” — one in which interior space intelligently and effortlessly adapts to us and our everyday activities. Its first family of systems, designed to transform the functionality and livability of small urban residential spaces, is available exclusively to real estate developers.
Ori systems currently can be found in select, modern apartment buildings located in 10 of the most influential cities in the United States and Canada. The Ori Full and Ori Queen systems intelligently solve the three main challenges of small space living by providing division of space, a proper living area and increased storage, enabling an inspiring and dynamic living environment that is interactive, connected and seamlessly fits into everyday life.
Hasier Larrea, Founder and CEO of Ori, said: “We are excited to partner with Khosla Ventures, who supports our vision to use robotics, architecture and design to create intelligent solutions at the intersection of two mega trends: urbanization and the Internet of Things. Our current focus is on solving the challenges many real estate developers, city officials and residents of small space environments are currently facing. However, we are also exploring ways to meet other challenges found in a variety of interior spaces, such as in hospitality, office and college settings.”
Renowned entrepreneur and investor Vinod Khosla commented: “At Khosla Ventures, we like large problems that are amenable to technology solutions. Ori has the opportunity to change not only the dynamics of one of the largest global markets, but to define a new category within that market with a product that can dramatically improve the efficiency of living space and promote environmental sustainability. We are excited to be working with Ori to help build on their momentum.”
About Ori, Inc.
Ori, Inc. creates intelligent, responsive systems that enable the elegant and effortless transformation of interior space. Ori systems combine robotics, architecture and design with limitless adaptability, inspiring applications in residential, office, hospitality, retail, education, medical and other urban settings. Ori derives its name from origami, the Japanese art of folding paper to create beautiful and remarkable objects that take many kinds of forms with elegance and beauty. For more information, please visit orisystems.com.
About Khosla Ventures
Khosla Ventures is a venture capital firm that provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. The firm was founded in 2004 by Vinod Khosla, co-founder of Sun Microsystems, and focuses on transformative technology in consumer, enterprise, education, financial services, health, big data, agriculture/food, sustainable energy and robotics. Khosla Ventures is headquartered in Menlo Park, California. For more information about the firm's activities, please visit https://www.khoslaventures.com.
Racepoint Global for Ori, Inc.
Deanna Meservey, 617-624-3415
Venture Capital Database