Built Robotics will be using its newly raised capital to scale its fleet of autonomous robots, expand into newer construction verticals, and to develop new tools to support the next generation of equipment operators.
Fremont, CA: Built Robotics raised a USD 33 million investment for the transformation of construction equipment into autonomous robots. The San Francisco based company also roped in T.J. Rylander, partner at Next47, as a new member to its board of directors. The company's global venture is funded by Siemens, along with other investors like Building Ventures, Founders Fund, NEA, Lemnos, and Presidio Ventures.
The company also raised over USD 100 million in customer commitments for its autonomous construction solutions. "We're excited to be partnering with Built Robotics on this significant milestone. They have proven market appetite and demand for the technology and have deployed working robots with leading construction companies around the country," said Next47's T.J. Rylander. "We believe Built is poised to lead this market and catalyze the deployment of this technology across construction applications."
Built Robotics will be using its newly raised capital to scale its fleet of autonomous robots, expand into newer construction verticals, and to develop new tools to support the next generation of equipment operators. The company's automated guidance systems are installable on the existing equipment, regardless of the manufacturer, while still maintaining full manual operation capabilities. The new and upgraded equipment is capable of performing common tasks like digging trenches, excavating foundations, and grading building pads.
Check out: Top Construction Technology Companies
The company's autonomous fleet can be managed using a web-based platform, while also allowing remote equipment operators to supervise the robots. "The shortage of qualified labor is an industry-wide challenge right now, and finding skilled workers is even more difficult on large-scale remote infrastructure projects. Our robotic equipment is able to shoulder some of the load by assisting with basic, repetitive tasks, freeing up human operators to focus on more complex activities," said Noah Ready-Campbell, CEO of Built Robotics. "I'm thrilled to be working with T.J. and Next47, as well as our existing investors, in writing the next chapter of Built Robotics."
Currently, Built Robotics' existing fleet has already excavated 100,000 tons of material on projects like wind farms, housing developments, and utility solar installations. The company's upgraded equipment can boast of over 7500 hours of robot labor with a perfect safety record, which is equivalent to 350,000 miles of testing for self-driving cars.