In May, Path Robotics announced a 56 56 million Series B, a big increase as far as robotics go. But the Columbus, Ohio-based startup is already back for more, just raising the “Empirical” Series C after just a couple of months.
And that’s a big deal. The company has raised 100 100 million, led by Tiger Global and featuring a partnership with current investor Silicon Valley Bank. The deal brings the robotic welding company’s total funding to પર 1,171 million.
Path cites a long-standing shortage of skilled welders as the primary driver in the interest surrounding its technology. The problem precedes the global epidemic (although perhaps only exacerbating the issue, as there are so many labor issues). Once again, he notes a study by the American Welding Society which states that by 2024 U.S. Welding workspaces alone will experience a shortage of about 400,000 welding workspaces.
With his voice, the company is already looking beyond welding. After all, construction is a huge business, with huge opportunities for the right robotics organization. And, of course, pouring 100 million will not hurt your growth plans.
“Most robots repeat what they are told, without the ability to correct themselves. The future of production rests on highly capable, flexible robotics, ”CEO Andrew Lonsberry said in a statement. “Robots that can really see and learn.”
What, exactly, are those plans for the future, the company does not say, but it plans to build a kind of modular ecosystem in the construction robotics category, possibly it above its imaging and AI.
Tiger Global partner Griffin Schroeder hinted at those plans in a statement. “The innovative approach to computer vision and proprietary AI software software allows robots to understand, comprehend and adapt to the challenges of each unique welding project. We believe that this breakthrough technology can be used to serve their customers holistically, in many applications other than just welding. And products. “