|
Hearken to this text  |
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 Collection A funding. The Nashville, Tenn.-based firm says its industrial portray robots might help defend infrastructure from untimely getting old.
As a substitute 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, mentioned 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 buyers for backing our mission and enabling us to develop each geographically and throughout new sectors.”
PaintJet begins by inspecting the whole exterior of the power with drones earlier than portray. This technique of inspection provides details about the power’s floor well being and maintenance schedules. It will also be used to determine the mission’s scope, value, and place to begin for the portray mission.
The corporate’s robots then put together the floor for utility. 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 business constructing must be painted for defense from the atmosphere, and that paint must be periodically re-applied.
At the moment, the American portray sector lacks 100,000 laborers wanted to satisfy mission calls for, in keeping with PaintJet. This can solely enhance sooner or later, as buildings will have to be repainted extra often to maintain up with erosion from extreme climate occasions.
“The demand for expert labor in development is quickly outpacing the accessible workforce. PaintJet’s modern options tackle this acute labor scarcity whereas making vital strides in reworking the business,” George Easley, Principal at Outsiders who participated within the funding spherical, mentioned in a launch. “There are a variety of options that make the enterprise uniquely thrilling. PaintJet’s market displays acyclical demand whereas affected by structural inefficiency, and the enterprise itself has each a differentiated technical method and a force-of-nature workforce with uncommon experience in business portray. We’re energized to associate with them to develop their workforce, 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 so far 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 permit it to extra simply develop 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.
Submit your nominations for innovation awards within the 2024 RBR50 awards.