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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 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.
At Basis Set Ventures merging venture capital and software development yields a $165 million new fund
When Xuezhao Lan first formed Basis Set Ventures, the goal was to leverage technology to give venture capital investing super powers.
From the earliest days, when Lan hired former TechCrunch reporter John Mannes, and then built out the team with the data scientist, Rachel Wong, former Upfront Ventures partner, Chang Xu, and former vice president of growth, Sheila Vashee, the focus was as much on technology products as it was on dollar investments and advisory services.
Together with Niniane Wang, a former advisor who now serves as the firm’s chief technology officer, Basis Set grounded its decisions in the technical bona fides of Lan’s firm. And product development isn’t something that the firm simply pays lip service about. Basis Set ships about three different updates to a massive suite of internal and external products every week, according to the partnership.
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