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Built Robotics Raises $64M to Give Autonomy to Construction Equipment

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April 7, 2022

Built Robotics, which develops aftermarket autonomy systems for construction equipment, has announced raising $64 million in Series C funding. The latest round was led by Tiger Global, with participation from existing investors at NEA, Founders Fund, Fifth Wall, and Building Ventures.

The company’s Exosystem is installed on excavators to enable machines to operate autonomously. The system includes an all-weather enclosure, proximity radar, 360-degree cameras, GPS and a liquid-cooled computer.

In a blog post, investor Building Ventures wrote about the lack of qualified construction teams for all the projects the world needs, due to inflation pressures and infrastructure spending expanding at a faster pace than slowing economic and population growth.

“We believe Built can help here,” writes Gregg Wallace from Building Ventures. “Built gets to market faster by retrofitting equipment rather than rebuilding and manufacturing the whole machine. This not only makes Built’s process more efficient, it also makes the products – and their benefits – more accessible to the market.”

The new funding brings the company’s total funding raised to $112 million. For more details on the funding, read articles found on Techcrunch and Equipment World.

To learn more details about the company and its technologies, visit the Built Robotics website here.

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