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A PaintJet robotic making use of the corporate’s proprietary paint to a constructing. | Source: PaintJet
PaintJet, an organization utilizing robots for industrial portray, has introduced in $10 million in Series A funding. The Nashville, Tenn.-based firm says its industrial portray robots may also help shield infrastructure from untimely ageing.
Instead of promoting or leasing its portray robots, PaintJet gives 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 latest round of funding has officially signaled that help is on the horizon for the industrial painting industry,” Nick Hegeman, CEO and co-founder of PaintJet, stated in a launch. “It’s not just about automation; it’s about redefining industry standards, addressing labor shortages, and introducing cost-effective solutions that break the mold of traditional painting. I’m thankful to our investors for backing our mission and enabling us to expand both geographically and across new sectors.”
PaintJet begins by inspecting your entire exterior of the ability with drones earlier than portray. This strategy of inspection offers details about the ability’s floor well being and maintenance schedules. It can be used to determine the mission’s scope, price, and place to begin for the portray mission.
The firm’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
Every industrial constructing must be painted for cover from the surroundings, and that paint must be periodically re-applied.
Currently, the American portray sector lacks 100,000 laborers wanted to satisfy mission calls for, in keeping with PaintJet. This will solely enhance sooner or later, as buildings will should be repainted extra ceaselessly to maintain up with erosion from extreme climate occasions.
“The demand for skilled labor in construction is rapidly outpacing the available workforce. PaintJet’s innovative solutions address this acute labor shortage while making significant strides in transforming the industry,” George Easley, Principal at Outsiders who participated within the funding spherical, stated in a launch. “There are a number of features that make the business uniquely exciting. PaintJet’s market exhibits acyclical demand while suffering from structural inefficiency, and the business itself has both a differentiated technical approach and a force-of-nature team with rare expertise in commercial painting. We’re energized to partner with them to grow their team, offerings, and reach.”
Details 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 whole funding thus 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’s going to make strategic engineering, monetary, and operational hires.
The firm hopes that its transfer to Virginia will permit it to extra simply develop into marine-based tasks. When used on ships, PaintJet says that its specifically developed paint can forestall rust and corrosion and prohibit mollusks, algae, and fungus from attaching to the underside of a ship.
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