10Lines, the Estonian startup that has developed autonomous parking lot and road marking robots, has announced a seed round of €700K led by Tera Ventures, a venture capital firm investing in early-stage global digital startups, with co-investment from US investor Perot Jain.
Founded in 2019, 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.
Tarmo Prints, CEO of 10Lines, commented: “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. In the US alone there are 800 million parking lots, which would cost around $6 billion to mark. Our robots are a tech-enabled solution to this problem, combining huge efficiencies with a fast payback time.”