10Lines, the Estonian startup that develops autonomous parking lot and road marking robots, has raised a seed round of €700,000, led by early-stage VC Tera Ventures, 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 is a unique product with the potential to disrupt a huge market, which to date has been almost entirely untouched by technology. At present, parking lots across the globe are marked and re-marked – often annually – in a time and resource-intensive process involving experienced teams of workers.”Tarmo Prints, CEO of 10Lines
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 startup CTO and AI developer.
To date, 10Lines has been self-funded and won grant funding first place awards from Prototron and MyGalileoSolution, amounting to €125,000.