ATTAbotics Inc., a Calgary, Alberta-based startup company that developed and commercialized the world’s first 3D robotics supply chain management system, filed an NOI on July 2 listing liabilities of approximately $73.5 million, including approximately $46.3 million to EDC. The company’s US subsidiary, ATTAbotics (US) Corp., also filed an NOI on the same day.

Since it was founded in 2016, ATTAbotics has partnered with companies such as Microsoft and its system has been deployed by major department stores and retailers across Canada the US. It has been primarily funded through capital raises led by EDC and the Ontario Teachers’ Pension Plan Board through Teachers’ Venture Growth, raising a total of approximately $220 million from 2019 to 2022.

Just before the NOI filing, the company had approximately 200 employees (180 in Canada and 20 in the US). It had also constructed a $20 million manufacturing facility at its Calgary premises.

While ATTAbotics enjoyed a surge in revenues of $11.4 million in 2022 which continued into 2023 at $8 million, by 2024, revenues began to sharply decline (down to $3 million) due to increasing interest rates, constrained consumer spending, supply chain disruptions and other factors. ATTAbotics also experienced a tightening of is gross margins, further constraining liquidity.

As an early-stage technology company, ATTAbotics has never achieved profitability. However, its annual losses escalated in 2024 to $49.5 million from $43 million in 2023 and $35 million in 2022. The company has been unable to secure additional funding from EDC or Teachers.

The purpose of the NOI proceedings is to maintain only minimal corporate functions and otherwise dedicate all corporate resources to identifying a going concern solution. All but 11 employees have been terminated. EDC will be providing a DIP loan.

Richter is the proposal trustee.

Counsel is Osler for the companies, McMillan for the proposal trustee, Norton Rose Fulbright for EDC and Cassels for BDC.