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A PaintJet robotic making use of the corporate’s proprietary paint to a constructing. | Supply: PaintJet
PaintJet, an organization utilizing robots for industrial portray, has introduced in $10 million in Sequence A funding. The Nashville, Tenn.-based firm says its industrial portray robots may help defend infrastructure from untimely getting old.
As an alternative of promoting or leasing its portray robots, PaintJet supplies a complete service inclusive of its robots and proprietary paint. The firm maintains oversight of the portray course of from begin to end. PaintJet says this allows it to faucet right into a $200 billion market with out being reliant on a shrinking workforce.
“Our newest spherical of funding has formally signaled that assistance is on the horizon for the economic portray business,” Nick Hegeman, CEO and co-founder of PaintJet, stated in a launch. “It’s not nearly automation; it’s about redefining business requirements, addressing labor shortages, and introducing cost-effective options that break the mould of conventional portray. I’m grateful to our traders for backing our mission and enabling us to broaden each geographically and throughout new sectors.”
PaintJet begins by inspecting your complete outdoors of the power with drones earlier than portray. This technique of inspection offers details about the power’s floor well being and maintenance schedules. It can be used to determine the mission’s scope, price, and start line for the portray mission.
The corporate’s robots then put together the floor for software. The robots wash down grime, mildew, and rust, after which take away seen and non-visible floor contaminants to make sure the paint adheres to the floor. PaintJet’s robots then apply the corporate’s specifically formulated paint.
Tapping right into a $200 billion market
Each industrial constructing must be painted for defense from the surroundings, and that paint must be periodically re-applied.
Presently, the American portray sector lacks 100,000 laborers wanted to fulfill mission calls for, in accordance with PaintJet. It will solely enhance sooner or later, as buildings will have to be repainted extra incessantly to maintain up with erosion from extreme climate occasions.
“The demand for expert labor in building is quickly outpacing the obtainable workforce. PaintJet’s revolutionary options deal with this acute labor scarcity whereas making vital strides in remodeling the business,” George Easley, Principal at Outsiders who participated within the funding spherical, stated in a launch. “There are a variety of options that make the enterprise uniquely thrilling. PaintJet’s market reveals acyclical demand whereas affected by structural inefficiency, and the enterprise itself has each a differentiated technical method and a force-of-nature staff with uncommon experience in industrial portray. We’re energized to companion with them to develop their staff, choices, and attain.”
Particulars on the funding spherical
Outsiders Fund led the spherical, which additionally included participation from 53 Stations, Dynamo, Pathbreaker Ventures, MetaProp, and VSC Ventures. This spherical brings PaintJet’s complete funding to this point to $14.75 million.
PaintJet plans to make use of the funding to relocate its headquarters from Nashville to Virginia in early 2024. In Virginia, the corporate says it is going to make strategic engineering, monetary, and operational hires.
The corporate hopes that its transfer to Virginia will enable it to extra simply broaden into marine-based initiatives. When used on ships, PaintJet says that its specifically developed paint can stop rust and corrosion and prohibit mollusks, algae, and fungus from attaching to the underside of a ship.
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