Arun Venkatadri
April 5, 2023
7 minutes

Model-Prime Announces Seed Round

Model-Prime is pleased to announce our seed round. Led by Eniac Ventures, with a number of other great funds and angels participating.

Model-Prime Announces Seed Round

From day zero, we've always had the same mission:"Build enterprise grade robotics infrastructure than anyone can use."The Robotics Industry needs a new way of working with data.The current methods are expensive, hard to manage, and inconsistent. For an industry that relies on data as its lifeblood, it's a barrier that makes it hard to be a robotics company in 2023.

There were a couple problems however:Not many investors were going to understand what we were trying to do, this problem has only been seen at scales in a handful of places.Our multivariate contrarian approach of not making promises we couldn't keep, fiscal responsibility, and good fundamental engineering vs hype, wasn't exactly in vogue in late 2021.

We talked to a number of funds that were willing to take bets on our backgrounds, and an equal number that were willing to take bets on the concept but didn't understand the culture we were trying to build.We weren't going to compromise on either, and we didn't have to.Vic Singh and Kristin McDonald understood us 100% on day zero. Not just the nuts and bolts of market size and our technical ability to deliver on our promises, but the "other side" of company building – creating a principled and mission-driven culture that aimed to build something significant.And sure, winds have changed since then. Macroeconomic trends have become clearer, industrial trends have become clearer, and capital markets heads have become clearer. But the team at Eniac Ventures always had clarity on us, and we're very  proud to build the future foundations of industry with you.

You can read the full Eniac Ventures blog post here

-Arun, Jeanine and the Model-Prime team.

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