Autonomous Robotic Welding Company Receives $56 Million Funding
Path Robotics, the Columbus, USA-based AI Robotics company responsible for designing the world’s first truly autonomous robotic welding system, has announced it received $56 million dollars in Series B funding, bringing the total invested in the company to $71 million.
Path Robotics is the only company in the world offering turnkey, robotic welding systems capable of autonomous welding. Its A.I.-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’s 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.
“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. 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.
The Columbus-based venture capital firm Drive Capital returns as an investor in Path Robotics. “We are thrilled to continue our partnership and investment in Path Robotics. 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.
“The future of intelligent machines and manufacturing is being created at Path Robotics right now,” said Alex Lonsberry, co-founder and Chief Technology Officer. “We are delivering on the promise of what robots can become. Realizing our mission requires a visionary team of partners. We are excited to have Addition working with us to change the world.”
For more information: www.path-robotics.com