Path Robotics raises $56M Series B for automated welding
Columbus, Ohio-based firm Path Robotics today announced the completion of a $56 million Series B. The round, led by Addition (featuring Drive Capital, Basis Set and Lemnos Lab) brings the robotic welding company’s total funding to $71 million.
Adding another piece to the broader automated manufacturing puzzle, the company is focused on robotic welding. The system uses scanning, computer vision and AI to adjust itself to different parts, understanding that sizing parts is a kind of imperfect science. Add to that the additional difficulty of working with highly reflective metals and you’ve got some interesting robotics problems to solve.
“Current industrial robotics have very little ability to understand their environment and the task at hand. Most robots merely repeat what they are told and have no ability to improve themselves,” CEO Andrew Lonsberry said in a release tied to the news. Our goal is to change this. The future of manufacturing hinges on highly capable robotics.”
The company says it’s looking to address a shortage in the welding workforce, which the American Welding Society says will experience a shortage of around 400,000 by 2024. The pandemic has also driven a number of companies to look for a more localized solution, apparently somewhat curbing the trend of offshoring the industry has seen in recent decades.
Enhanced computer vision, sensors raise manufacturing stakes for robots as a service (https://techcrunch.com/2020/10/08/enhanced-computer-vision-sensors-raise-manufacturing-stakes-for-robots-as-a-service/)