Venture Capital: Autonomous Welder Path Robotics Nabs $56M
Path Robotics is designing the world’s first truly autonomous robotic welding system.
Path Robotics announced its raise of $56 million in a Series B round led by Addition and with participation by returning investors Drive Capital, Basis Set, and Lemnos Lab. The company creates manufacturing robots that autonomously scan, position, and weld the customer’s parts without the need for skilled welders or robot programmers. (CISION PR Newswire)
Disruptive agenda for welding
The company’s autonomous welding solutions are available even for high mix, high variance, or low volume applications. It offers a pay-as-you-go subscription model, which means the customer does not have to bear any upfront Capex costs. The charges cover all maintenance needs and downtime if any.
The company’s product makes sense because the supply of welders is diminishing while demand is growing at about 3% per year. By 2024, American is likely to face a shortage of about 40,000 skilled welders.
This situation is likely to create a bottleneck in the country’s manufacturing growth.
“Path Robotics is solving a complex and critical problem in our country by bridging the gap between the supply of skilled welders and demand,” said Lee Fixel of Addition.
“Their A.I. and computer vision technology is solving a large and urgent need for manufacturers around the world,” said Nick Solaro, Partner at Drive.
Intelligent robotic systems
Path’s robotic, AI-driven welding robot redefines industrial robotic welding.
“Through proprietary scanning and computer vision technology, the system can see and understand nearly any part it’s given with the ability to self-adjust for each unique part,” the company claims. “It analyzes where a weld is needed and generates all the planning to execute a clean weld nearly instantly.”
“Most robots merely repeat what they are told and have no ability to improve themselves,” said Andrew Lonsberry, CEO of Path Robotics. “The future of manufacturing hinges on highly capable robotics.”
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