Total amount raised
$68.7 Millions
Latest funding date
05/01/2022
Location
Dusty Robotics has successfully raised significant funding over multiple rounds, with its latest being a Series B. The company specializes in developing robot-powered tools designed to modernize the construction industry.
Keep reading to explore the intricacies of Dusty Robotics' fundraising journey and the investors backing this innovative platform.
What Is Dusty Robotics?
Dusty Robotics, founded in 2018 by Mamuka Grigolia and Tessa Lau, is based in Mountain View, California. The company specializes in developing robot-powered tools for the construction industry, with their flagship product being the FieldPrinter. Dusty Robotics employs between 51 and 100 people, focusing on automating the layout process on construction sites to enhance accuracy and efficiency.
How Much Funding Has Dusty Robotics Raised?
- Seed Round
- Amount Raised: $2.2M
- Date: August 2018
- Lead Investors: Baseline Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product prototypes and validate the market need for robotic solutions in construction.
- Seed Round
- Amount Raised: $5M
- Date: November 2019
- Lead Investors: NextGen Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the FieldPrinter and begin initial deployments on construction sites.
- Series A
- Amount Raised: $16.5M
- Date: June 2021
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the team to support growing demand for the FieldPrinter.
- Series B
- Amount Raised: $45M
- Date: May 2022
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the team, expand product offerings, and accelerate manufacturing to deploy products on all U.S. construction sites.
Total Amount Raised: $68.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Scale Venture Partners
- Details: Scale Venture Partners is a Silicon Valley-based early-stage venture capital firm that invests in enterprise software companies. They have been early investors in companies like Box, DocuSign, HubSpot, RingCentral, and Bill.com.
- Investment Focus Areas: Enterprise software, SaaS, Cognitive Applications, transformational business software.
- Notable Investments: Box, DocuSign, HubSpot.
- Baseline Ventures
- Details: Baseline Ventures is a venture capital firm that invests in early-stage technology companies. They have a track record of identifying and supporting innovative startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Instagram, Stitch Fix, Heroku.
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage startups across various sectors, including technology and healthcare. They have a diverse portfolio of successful companies.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: LendingClub, Ebates, Match.com.
- Root Ventures
- Details: Root Ventures is a venture capital firm that focuses on investing in hardware, software, and data science startups. They aim to support companies that are pushing the boundaries of technology.
- Investment Focus Areas: Hardware, software, data science.
- Notable Investments: Fictiv, Instrumental, Plethora.
- NextGen Venture Partners
- Details: NextGen Venture Partners is a venture capital firm that leverages a network of venture partners to invest in early-stage companies. They focus on building strong relationships with their portfolio companies.
- Investment Focus Areas: Early-stage companies across various sectors.
- Notable Investments: Parachute, Framebridge, UrbanStems.
What's Next for Dusty Robotics?
Dusty Robotics stands at the cusp of a transformative era in the construction industry. With the construction market valued at $15 trillion, the opportunity to automate manual workflows is immense. Their flagship product, the FieldPrinter, has already made significant inroads, being used on 25 million square feet of construction sites in Q1 2022 alone. This positions Dusty Robotics to expand its footprint across all U.S. construction sites, addressing the industry's skilled labor shortage and enhancing productivity.
Future fundraising opportunities appear promising as the company continues to demonstrate growth and market penetration. The successful Series B round, led by Scale Venture Partners, sets the stage for potential future rounds to further scale operations and expand product offerings. The increasing adoption of automation and robotics in construction, driven by the need for efficiency and reduced manual labor, aligns perfectly with Dusty Robotics' mission.
However, challenges remain. Convincing traditional construction firms to adopt new robotic technologies and managing the scaling of production to meet growing demand are significant hurdles. Ensuring the reliability and accuracy of their solutions in diverse construction environments will be crucial. Despite these challenges, the future looks bright for Dusty Robotics as they continue to innovate and lead the charge in modernizing the construction industry.
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