Big fundraising push for Columbus robotics company with Cleveland ties
Path Robotics has raised funding for its robotic welding systems, seen here in a rendering.
A Columbus-based artificial intelligence robotics company with connections to Case Western Reserve University has raised $56 million in Series B funding, a news release stated.
Path Robotics, which has designed an autonomous robotic welding system, has received a total of $71 million in investments. The company was started by brothers Andy and Alex Lonsberry, who studied at Case Western Reserve, along with their father, Ken Lonsberry, and with Matt Klein. 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. Our goal is to change this. The future of manufacturing hinges on highly capable robotics, CEO Andrew Lonsberry said in the release.
Path Robotics Raises $56M in Funding
Path Robotics, a Columbus, OH-based AI Robotics company designing an autonomous robotic welding system, raised $56m in Series B funding.
The round, which brought total funding raised to date to $71m, was led by Addition with participation from returning investors Drive Capital, Basis Set, and Lemnos Lab.
The company will use the funds to continue to expand its operations and development efforts.
Co-founded by brothers Andy and Alex Lonsberry, Matt Klein and their father, Ken Lonsberry, Path Robotics is developing artificial intelligence, machine learning, and computer vision systems to make industrial robots intelligent.
Through proprietary scanning and computer vision technology, the system can see and understand nearly any part it’s given with the ability to self-adjust for each unique part. It analyzes where a weld is needed and generates all the planning to execute a clean weld nearly instantly. The system was designed to op
Path Robotics Raises $56M to Build the Future of Manufacturing
The Series B financing is led by Addition
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COLUMBUS, Ohio, May 3, 2021 /PRNewswire/ Path Robotics, the Columbus-based AI Robotics company responsible for designing the world s first truly autonomous robotic welding system, today announced it received $56 million dollars in Series B funding, bringing the total invested in the company to $71 million. Addition led the round and was joined by returning investors Drive Capital, Basis Set, and Lemnos Lab. Path Robotics is solving a complex and critical problem in our country by bridging the gap between the supply of skilled welders and demand, said Lee Fixel of Addition. We look forward to supporting the company as it works to lead American manufacturing into the future.