Electric autonomous vehicle company, the Academy of Robotics, has closed its latest funding round in under six hours. Investment came in so quickly that founder William Sachiti turned down an additional £500,000 that was offered.

The Academy of Robotics is currently developing Kar-Go, the autonomous delivery vehicle. Kar-Go hopes to shake-up the delivery market by removing 90% of the costs involved in making a delivery – helping to increase profits for logistics companies and decrease costs for consumers.

By using a combination of advanced robotics and driverless vehicle technology, Kar-Go is designed to autonomously drive on unmarked roads such as residential areas. Unlike many driverless vehicles that are best-suited to main roads and highways, Kar-Go is specifically designed with small, residential side-streets in mind.