August Robotics raises $42m to scale up new robotic systems
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The news: Global robotics construction and industrial applications firm August Robotics has raised USD30 million ($42 million) in a Series B equity financing round, led by Big Pi Ventures.
The context: The funding will boost August Robotic’s capabilities to automate physical-world workflows through robot fleets coordinated via a single software, hardware and fleet-management platform.
The new capital will be used to scale up production for existing models, enhance the company’s AI footprint and develop new robotic systems for customers in the construction, exhibition and infrastructure sectors.
Founded in 2017 by Australian-born Alex Wyatt, the company operates globally across seven hubs in the US, Asia, Europe and Australia. Its modular platforms are designed to accelerate critical building tasks with high precision, which would help alleviate workforce shortages.
Existing investors including Blackbird, Skip Capital, Tanarra and Future Family Office participated in the syndicate, alongside incoming US construction-specialist investor GS Futures.
What they said: “August Robotics is a globally category-leading business addressing a key bottleneck in digital infrastructure buildout via applying technological innovation to the physical world. Its platform approach has a potentially profound impact in accelerating AI throughput globally,” Big Pi Ventures partner Panos Metsis said.
The source: August Robotics media release
