Home Robotics Promise Robotics brings in $15M to convey automation to homebuilding

Promise Robotics brings in $15M to convey automation to homebuilding

Promise Robotics brings in $15M to convey automation to homebuilding


Hearken to this text

Voiced by Amazon Polly
promise robotics.

Promise Robotics’ robotic system goals to take away the chance from homebuilders by providing merchandise that profit from a decade of operational excellence, steady enchancment, and profitable homebuilding. | Supply: Promise Robotics

Promise Robotics, an AI firm creating a cloud-based industrial manufacturing platform for robotic development and meeting, has raised $15 million in Collection A funding. The most recent spherical brings the corporate’s complete funding up to now to $25 million. 

The brand new funding will assist Promise Robotics commercialize its robotic manufacturing unit platform to help its rising demand from homebuilders and to proceed increasing its product IP in AI, laptop imaginative and prescient, and industrialized robotics programs for development. 

The corporate’s system allows the homebuilding trade to deploy automation at scale. Promise Robotics’ AI platform transforms off-the-shelf industrial robots into ready-to-deploy manufacturing programs powered by its proprietary cloud-based working system that manages this complete manufacturing lifecycle. The corporate manages your entire automation lifecycle inside factories as a service, liberating its clients to concentrate on homebuilding and rising their companies. 

“Builders are reluctant to put money into pricey factories after which endure years of trial and error to attain operational success,” Ramtin Attar, CEO and co-founder of Promise Robotics, stated. “These capital and information obstacles have traditionally impeded the trade’s capability to put money into automation expertise. Now we have melded our first-hand experience in automated homebuilding with transformative expertise improvements to take away each obstacles to broader adoption.”

Horizons Ventures led the spherical, which additionally included participation from Radical Ventures, Public Sector Pension Funding Board (PSP Investments), and strategic buyers together with United Brotherhood of Carpenters, Relay Ventures, and Alate Companions. 

“It’s exhausting to think about we can be constructing houses the identical method in 5-10 years. Promise Robotics is well-positioned to be a disruptive drive on this trade,” Kerry Liu, an investor at Horizons Ventures, stated. “We studied the panorama and concluded that Promise Robotics was not solely a technical chief, they’d a right away eye in direction of working with the house builder and speedy commercialization. This isn’t shocking given the background of the founders. We’re thrilled to help them on this journey.”

Promise Robotics was based by Ramtin Attar and Reza Nasseri, a former R&D government at Autodesk and an achieved Canadian homebuilder. The corporate emerged lower than three years in the past, and is rooted within the founders’ observe report in large-scale automated residence development. The founders have accomplished 1000’s of houses working a high-volume prefab manufacturing unit out of Alerta, Canada. 

The corporate estimates that for each 1 million new houses, the corporate can save the trade $130 billion in price, cut back GHG Emmisions by 560MT, and generate 16,000 new classes of jobs.



Please enter your comment!
Please enter your name here