Built Robotics was founded in 2014 by Andrew Smith and Ryan Smith. They aimed to transform traditional construction equipment into robots, focusing more on safety, efficiency and precision.
In 2021, Built Robotics raised $64M in its latest round of funding, cementing its position as a leader of the construction robotics space.
This article introduces the founders and their journey in building the company.
Overview of Built Robotics
Built Robotics is an industrial robotics company based in San Francisco, California that develops autonomous vehicles and robotics systems for heavy equipment. Founded in 2014 by Andrew Smith and Ryan Smith, the company’s mission is to transform excavators and other heavy equipment into robots capable of performing various tasks, including grading, excavation, mapping, construction site management and safety monitoring.
Built Robotics’ hardware uses proprietary sensing technology to deliver real-time performance data on the job site. This technology has been designed to be production-ready, with long-term cost savings and operational improvements that benefit businesses across various industries. Recent advances in AI algorithms have made it possible for Built Robotics to develop autonomous systems that are reliable and require minimal human supervision.
In February 2021, Built Robotics announced a $64 million Series B financing round led by Sequoia Capital. The additional funding will help the company accelerate its development of autonomous technologies as it moves into new markets worldwide. With this investment, Built Robotics plans to expand its product line up as well as go beyond its current offering which includes excavator automation and safety systems for heavy equipment operations.
Background of the company
Built Robotics was founded in 2014 by Andrew Smith and Ryan Smith, two technologists passionate about improving safety and efficiency on construction sites. With a small team of engineers and experts, they began to develop the first autonomous navigation system for excavators. This innovative robotic technology transforms heavy machinery into robots that can productively respond to commands while preventing costly errors.
Since their launch, Built Robotics has raised over $64 million in venture capital to expand their research and development projects. They continue to make impressive strides in integrating autonomous robotics into various infrastructure industries. From civil engineering to mining and demolition, the team at Built Robotics is continuously pushing boundaries with creative solutions that are both cost-effective and proficient.
Funding
Built Robotics, a San Francisco-based robotics company, has recently raised $64 million in a Series B funding round. The funding was led by 8VC and Vista Equity Partners, and also included additional investment from existing investors NEA, Lux Capital and Amplify Partners.
The money will help the company to continue its mission of transforming heavy-duty construction machines into robots that can be operated remotely.
Series A funding round
Built Robotics closed the Series A funding round in 2020, allowing the company to bring its revolutionary software to a broader set of clients. It raised $64M, led by True Ventures with participation from Bessemer Venture Partners, August Capital and Next47.
With this capitalization, Built Robotics is well positioned to take advantage of one of the fastest growing robotics segment: transforming traditionally manual processes into automated ones. The Series A funding will enable Built Robotics to continue developing a full suite of software applications which allow humans and machines to interact seamlessly, transforming existing heavy equipment (excavators) into autonomous robots for industries such as agriculture, mining, construction and light manufacturing.
This capitalization will help Built Robotics grow its team size significantly and transition from R&D mode into a full-fledged commercial product team that can develop & market its suite of software solutions for customers worldwide. It will also provide resources to accelerate research & development initiatives of advanced AI-driven platforms that will make sense of sensor data collected at job sites while automating mission control functions such as motion control and navigation. This will help create an even more effective ecosystem for robots working in heavy industry environments worldwide.
Series B funding round
Built Robotics, a San Francisco-based automated industrial robotics company, announced that it has raised $64 million in a Series B funding round. This round was led by Lincoln Electric Holdings and DRW Venture Capital and included participation from existing investors Index Ventures, Kespry, Playground Global, ICONIQ Capital and Vinod Khosla. This round brings the total funding raised to date by the company to $90 million.
The funds will be used to further develop Built Robotics’ autonomous solutions for industrial excavators. This will allow excavators to be transformed into robots that can dig autonomously while ensuring safety on construction sites such as roads, bridges, dams and power grids. The investment will also go towards scaling up production of its first commercially released product: Autonomous Grade Assist (AGA). AGA enables operators of excavator fleets to increase safety and efficiency on site while eliminating human error during digging activities on construction projects of various sizes.
Series C funding round
Built Robotics announced a $64 million Series C funding round led by New Enterprise Associates (NEA) and Y Combinator. This round brings Built’s total capital raise to over $99 million. The funds will support expanding the company’s sales, engineering, product teams and manufacturing operations.
Built Robotics creates robotics technology for construction, agricultural, energy and mining industries. It aims to enable existing machinery such as excavators, dozers and skid steers to adopt autonomous technologies, allowing them to run unmanned in hazardous or remote environments that are too tough or dangerous for humans. This can significantly cut costs and increase safety in these industries by taking people out of harm’s way.
The tools created by Built Robots operate on precision GPS RTK systems which provide accuracies down to a few centimeters – meaning no more guesswork when it comes to dig sites or creating leveled surfaces. The goal is to put the robots in charge of most manual tasks so that human operators can focus on higher-value activities such as decision making and more complex operational situations.
Technology
Built Robotics is a technology company transforming excavators and other types of machinery into robots. Founded in 2014 by Andrew Smith and Ryan Smith, the company has quickly grown, recently raising $64 million from a series of venture capital and tech investors.
Let’s look at the technology that Built Robotics is bringing to the construction industry.
Autonomous excavators
Autonomous excavators have the potential to revolutionize construction projects, making them faster and more efficient. Built Robotics is a company that has developed technology to turn manual excavators into self-driving machines. Founded in 2014, by brothers Andrew and Ryan Smith, Built Robotics recently raised $64 million in funding. This investment allows the company to expand its development efforts and deployment of autonomous excavators in multiple industries.
The technology can be installed as an upgrade on any standard hydraulic excavator. It makes it possible for machines to identify objects and use 3D maps to autonomously move material from place to place with precision accuracy. Furthermore, their systems are equipped with built-in safety features that allows for the safe operation of these autonomous machines both on public roads and inside plants or facilities where pedestrians might be present.
With the help of Built Robotics’ financial support, contractors now have access to cutting-edge technology that can help them save costs and improve accuracy when completing projects involving excavation or earthworks operations. By taking manual labor out of the equation, tasks like digging trenches or clearing land become easier, safer and more efficient than ever before – all while reducing operational costs associated with hiring laborers.
Automation of construction
Built Robotics is a leading robotics company focused on advancing automation in the construction industry. Founded in 2014 by Andrew Smith and Ryan Smith, Built Robotics has raised over $64 million in Series B funding to bring robotic technology to various construction projects, from simple excavation work to more complex tasks such as loading, unloading and hauling materials.
Using robotics, Built Robotics seeks to make construction safer, more efficient and easier for contractors. The robots handle a wide variety of manual labor tasks with minimal operation time and at a greater precision than humans alone are capable of providing. In addition to handling mundane excavator tasks such as scooping or digging trenches, they can also handle more complex jobs such as road repairs or moving materials around a building site safely. Furthermore, their autonomous driving capabilities allow the robots to avoid potential hazards such as bumps or potholes while navigating around rugged terrain.
By automating construction and eliminating certain manual processes, Built Robotics can reduce costs while increasing speed and accuracy—a win-win situation for contractors and clients. With these technological advances comes cost savings that can be used towards initiatives in advanced safety features or longer-term investments like advanced navigation systems. This automated system also allows projects to be completed faster than ever before allowing for better resource management within the projects timeline—contractors no longer have workers waiting onsite for batches of material when utilizing robots working autonomously in their place. With the increase of safety within construction sites due to automation there is no doubt that robots will soon become an indispensable asset on any job site globally.
Impact
Since its inception in 2014, Built Robotics has achieved impressive growth, raising $64M to transform excavators into robots. This technology disrupts the traditional construction process by automating infrastructure construction and providing cost and time savings for those involved in the construction process.
In this section, we will explore the impact of Built Robotics and the revolutionary changes it brings about.
Increased safety
With the help of Built Robotics’Raise of $64M, their mission to transform excavators into robots will benefit construction site workers, the environment and the industry.
The technology developed by Built Robotics uses sensors, autonomy and advanced machine learning to enable excavators to navigate construction sites with increased accuracy, speed and safety. The goal is for operators to be able to program in a mission of how they want the job done while they do something else with assurance that it will be done safely and accurately. This brings significant cost benefits as well by reducing risk incidents on-site, minimizing human intervention in dangerous conditions, preventing overcharges and ensuring compliance with regulations. Additionally, this technology reduces environmental impact such as air pollution caused by diesel engines and noise pollution in populated areas.
Essentially it is improving safety measures on many levels – less costly mistakes due to more accurate navigation; fewer risky situations where manual intervention is necessary; reduced environmental damage; reliable adherence to regulations; smoother transitions from heavy machines operating at sites to autonomous robots completing tasks without human supervision or intervention. Through these increased safety measures companies are enabled either increase productivity or reduce overall costs associated with manual labor in dangerous or complex situations.
Improved efficiency
Built Robotics Inc. recently raised $64 million in a funding round. This will help the firm expand from its California base and accelerate the development of its core product, autonomous construction equipment.
The funds will also be used to expand into new industries, as well as explore new technologies for machine control, navigation and safety.
The core product of Built Robotics is designed to transform traditional excavators into smarter machines that are highly efficient and require minimum operator oversight. The technology is currently being implemented on some construction sites, where machines can complete tasks faster than man-operated methods, reducing labor costs and allowing worksite construction teams to focus on other tasks. In contrast, the robot completes its mission autonomously.
By reducing human labor costs and supplementing them with robotic automation, Built Robotics is paving the way for improved efficiency in construction projects by introducing improved tools that allow contractors to complete their missions faster with fewer delays or accidents safely and securely.
Reduced costs
Built Robotics has raised $64 million in its latest funding round to create robots that can economically transform the construction industry. With this investment, Built Robotics will launch an AI-powered solution that turns existing heavy equipment into autonomous systems. Their technology makes the automated control of construction vehicles possible without modifying them physically or electrically.
This game-changing solution can reduce labor costs associated with construction projects while also increasing productivity and safety on site. By automating these machines, human operators will be removed from hazardous and unchanging tasks, freeing resources to focus on creative problem-solving.
Additionally, Built Robotics’ platform is compatible with a broad range of vehicles – from excavators to wheel loaders – making it suitable for various applications and allowing customers to use their existing fleet for automated projects. This significantly reduces initial investments for automation technology, making the entry cost into robotics much more affordable than other solutions today.
Future
Built Robotics is revolutionizing the construction industry by transforming traditional excavators into robots. With their recent round of funding, totalling $64M, the company is poised to continue to build on their vision of a more efficient and automated workforce.
In this article, we will explore the future of Built Robotics, and how their technology will shape the industry for many years.
