Built Robotics has closed a $33 million Series B investment round led by Next47, the new global venture fund backed by Siemens. This brings Built’s total funding to $48 million.
The startup has now raised more than $100 million in customer commitments for its autonomous construction solutions.
Built Robotics says it will use the capital to scale its fleet of autonomous robots, expand into new construction verticals, and develop tools to support the next-generation of equipment operators. (See video below.)
San Francisco-based Built Robotics has added T.J. Rylander, partner at Next47, to its board of directors.
Additional investors include Building Ventures and current Built Robotics backers such as Founders Fund, NEA, Lemnos, and Presidio Ventures.
Next47’s T.J. Rylander, says: “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.
“We believe Built is poised to lead this market and catalyze deployment of this technology across construction applications.”
Built’s technology transforms construction equipment — including excavators, bulldozers, and skid steers — into fully autonomous robots.
The automated guidance systems can be installed on existing equipment from any manufacturer, while still maintaining complete manual operation capabilities.
The upgraded equipment is able to perform common tasks fully autonomously, such as digging trenches, excavating foundations, and grading building pads.
The autonomous fleet can be managed via a web-based platform, which allows remote equipment operators to supervise the robots.
The investment comes on the heels of Built signing over $100 million in customer commitments.
Built says its current fleet of robots has excavated 100,000 tons of material on projects such as wind farms, housing developments, and utility solar installations.
In total, equipment upgraded by Built Robotics has operated for over 7,500 hours “with a perfect safety record” — equivalent to 350,000 miles of testing for self-driving cars.
Noah Ready-Campbell, CEO of Built Robotics, says: “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.
“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.”
