COLUMBUS, OH, UNITED STATES, October 14, 2024 /EINPresswire.com/ -- Path Robotics continues to blaze the trail for tech and manufacturing in the US. Over the last 12 months, the artificial intelligence robotics startup has closed $100M in new investments led by Matter Venture Partners and Drive Capital, with participation from Yamaha Ventures, Taiwania Capital, MediaTek, Catapult Ventures, Gaingels, Addition, Tiger Global and Basis Set.
“With Matter Venture Partners, there was a mutual attraction we both recognized,” shares Andy Lonsberry, Co-Founder and CEO of Path Robotics. “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.”
“As a firm, we seek out transformative technologies that solve pressing, real-world challenges –– and Path Robotics exemplifies that vision,” said Haomiao Huang, Founding Partner at Matter Venture Partners. “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 revitalize American manufacturing and lead the future of AI robotics in the factory.”
“This investment from Matter Venture Partners is valuable, but their expertise and relationships are just as meaningful. The manufacturing industry’s challenge with the shortage of welders is not going away and they understand the nuance of what we’re tackling. They are aligned with us in our beliefe that to rebuild manufacturing we are going to have to create autonomous systems that can take on the labor challenges currently plaguing American manufacturing,” said Lonsberry.
Path Robotics is on a mission to rebuild American manufacturing and help companies onshore their production and boost their profitability. Path Robotics is dedicated to embodying AI so that robotic systems have the intelligence needed to take on the challenges that traditional automation is incapable of tackling.
“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.” Said Nick Solaro, General Partner from Drive Capital.
Path currently has two robotic welding products in the market. The AW-3 Robotic Welding Cell can handle large parts, as big as 70 feet long. The AF-1 Robotic Welding Cell can pick, fit, and weld parts without human intervention. Both robotic welding cells leverage vision systems, artificial intelligence, and machine learning to autonomously weld steel parts and are deployed in fabrication shops across the US and in Canada.
Path Robotics has previously received venture backing from other prominent investors such as Drive Capital, Addition, Tiger Global, Basis Set, Lemnos, and SVB totalling $170M.
Path Robotics: Rebuilding American Manufacturing: https://vimeo.com/1019532075?share=copy#t=0
ABOUT PATH ROBOTICS: Path Robotics was founded in 2018 by brothers Andy and Alex Lonsberry with a desire to help fill gaps in the manufacturing industry. As a result, Path Robotics creates robotic systems that leverage state-of-the-art artificial intelligence, machine learning, and computer vision systems to fit-up and weld parts. Path’s mission is to enable robots to build, so humans can create.
ABOUT MATTER VENTURE PARTNERS: Founded in 2023, Matter Venture Partners (MVP) is an early-stage venture fund based in Silicon Valley. Having raised $300M for their initial fund, the firm's investment focus is on early-stage HardTech startups, partnering with founders building around semiconductors, AI robotics & RaaS, AI infrastructure, industry 4.0, life science automation, and electrification. MVP accelerates the process of bringing HardTech innovation to scale through decades of experience as hands-on investors, founders, and operational executives, paired with an ecosystem of strategic supply chain LPs and operating partners.
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