December 21, 2021

PaceRobotics400x275Pace Robotics, a Bangalore, India-based construction robotics startup, has announced raising seed investment from Pidilite Industries Ltd., which has acquired an equity stake of 19.5% in the company. The company said it will use the funds for product development and core team expansion.

Founded in 2020 by Ayushmoy Roy and Srinivas K Pai, the company has been working on a prototype for a wall finishing robot for internal plastering, painting and putty of buildings. The robot can help improve efficiency and bring down costs of the wall finishing process for construction companies. The company said it received interest in pilot projects from several real estate developers and contractors, and plan to deploy the robots for pilots in the coming months.

“Support from Pidilite validates the company’s vision to disrupt one of the oldest and largest industries in the world and will help us accelerate product development and market entry,” said Pai. Additional investors include SINE-IIT Bombay, MARL 5G Accelerator and Kochi Holdings.

The company said the size of the opportunity that the construction industry provides, as well as a lack of alternatives to traditional methods of working, creates a sweet spot for disruption. For more details on the company, visit the Pace Robotics website here.