Vantora, a California-based venture builder formerly known as UP.Labs, has raised US$100 million from Silversmith Capital Partners and is shifting to build startups mainly for corporate partners that may later absorb them into their businesses.

Founder and CEO John Kuolt said that under this model, corporate partners invest in the startups, become their first customers, and can choose to fold the new businesses into their operations instead of taking the products to a broader market.

Kuolt said the shift is also pushing Vantora toward more physical AI startups, including projects that some corporate partners consider too sensitive to sell more widely.

The firm launched in 2022 with Porsche as its first corporate partner. It later struck deals with Alaska Airlines, JB Hunt, Wabash, and TDG, the parent company of Ashley Furniture.

Vantora is also working with unnamed customers in industrial manufacturing and the oil and gas sector, Kuolt said.

🔗 Source: TechCrunch