Robotic technology provider Path Robotics has secured US$100m in Series D funding led by Matter Venture Partners and Drive Capital.
The funding will allow Path Robotics to advance its AI-enabled robotic welding systems, while addressing labour shortages in the welding industry, by using autonomous solutions.
The funding was supported by Yamaha Ventures, Taiwania Capital, MediaTek, Catapult Ventures, Gaingels, Addition, Tiger Global, and Basis Set.
READ MORE: Simbe raises US$50m in Series C funding led by Goldman Sachs
Andy Lonsberry, co-founder and CEO of Path Robotics, said: “There are multiple layers to what we’re doing at Path; we build software, but it powers hardware.
“We serve the welding industry, but with cutting edge AI, robotics, and machine learning. Having an investor that understands those layers is important to our success and continued growth.”
Adding, Haomiao Huang, founding partner at Matter Venture Partners, said: “Path’s AI robotics technology is a game-changer for manufacturing, starting with addressing critical labor shortages in welding but with potential far beyond that.
“We are incredibly proud to partner with Andy and the Path Robotics team in their mission to revitalise American manufacturing and lead the future of AI robotics in the factory.”
Nick Solaro, General Partner from Drive Capital added: “America is leading the way in AI, but has fallen behind in manufacturing and the hard skills that enable it. No Longer.
“Path Robotics represents a sea change in how America builds things and sets the country on a course to once again be a manufacturing powerhouse.”
Innovations and achievements in robotics in retail will be highlighted and celebrated at the second annual Robotics & Automation Awards on 06 November 2024 at De Vere Grand Connaught Rooms in London. Visit www.roboticsandautomationawards.co.uk to learn more about this unmissable industry event – and to book your table!
