Path Robotics Raises $56M to Build the Future of Manufacturing
July 1, 2021
Path Robotics, a Columbus-based AI Robotics company that has designed an autonomous robotic welding system, has received $56 million in Series B funding, bringing the total invested in the company to $71 million. Addition led the round and was joined by returning investors Drive Capital, Basis Set and Lemnos Lab.
"Path Robotics is the only company in the world offering turn-key, robotic welding systems capable of autonomous welding," said a spokesperson. "Its AI-driven robotic product is a market disruptor as it redefines industrial robotic welding."
The technology was designed to ensure no system programming and require "no perfect parts." Through proprietary scanning and computer vision technology, the system can see and understand nearly any part it is given with the ability to self-adjust for each unique part. It analyzes where a weld is needed and generates all the planning to execute a clean weld nearly instantly. The system was designed to operate precisely in a manufacturing environment and with highly reflective materials.
"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. "We look forward to supporting the company as it works to lead American manufacturing into the future."
"Current industrial robotics have very little ability to understand their environment and the task at hand. Most robots merely repeat what they are told and have no ability to improve themselves. Our goal is to change this. The future of manufacturing hinges on highly capable robotics," said Andrew Lonsberry, CEO of Path Robotics.
The number of people entering the welding workforce in America continues to fall while the average age of welders continues to grow. "The demand for welders is increasing at 3% per year while the supply is decreasing, creating a shortage in the American welding workforce of 400,000 skilled welders by 2024," said the spokesperson. "This reality, coupled with a pandemic-driven increased demand for onshore manufacturing, is leading to a choke point for American manufacturing across industries. Path Robotics is dedicated to building intelligent robotic systems to reduce this bottleneck and fuel a new generation of American manufacturing growth."
For more information contact:
Path Robotics
524 Maier Place
Columbus, OH 43215
www.path-robotics.com
< back