KEWAZO, a Munich-based start-up that’s digitalising building with robotics and data analytics, protected $5M (approx EUR4.2 M) financing in a Series A round led by True Ventures.
Existing investor MIG AG, a Munich-based VC firm and one of the founding financiers in BioNTech, also got involved. With this round, the company has raised $9M (approx EUR7.6 M) to date.
Artem Kuchukov, CEO of KEWAZO says, « With the brand-new investment we intend to expand our robotic fleet in Europe and the United States to present the RaaS model and to make it possible for additional digital services. LIFTBOT enhances employee safety, makes tasks more efficient, and dramatically cuts the quantity of man-hours jobs take, all while saving cash. »
Image credits: KEWAZO
- Concentrate on scaffolding assembly
- Deals with labor lack
- 40 pilots and test projects
- True Ventures: What you need to know
Focus on scaffolding assembly
Founded in 2016, KEWAZO establishes clever robotic elevators for industrial and building sites, with the very first application focus being scaffolding assembly.
KEWAZO states that 80 percent of tasks, when it concerns building or dismantling scaffolding, are done by hand.
The German business has actually established building and construction robot innovation called LIFTBOT for scaffolding, which automates material transportation.
Addresses labor scarcity
LIFTBOT makes assembly more effective and saves up to 44 per cent man-hours, which directly deals with labour lack– a long-lasting issue in the industry.
Even more, LIFTBOT can be utilized for other tasks such as insulation, painting, and other on-site material transport with minor adjustments. At the very same time, LIFTBOT likewise collects functional information and provides it in an information analytics platform.
The business works carefully with large scaffolding companies and industrial service providers. The first batch of LIFTBOTs has actually been effectively provided to crucial clients in the EU markets.
40 pilots and test tasks
KEWAZO has actually completed more than 40 pilot and test jobs and has provided robots to significant clients like Bilfinger, a leading European commercial provider to oil and gas websites in Germany.
« We have actually checked LIFTBOT throughout ongoing operations and immediately acknowledged the potential of the option, » said Alexander Brod, branch supervisor of Bilfinger Arnholdt in Gelsenkirchen. « With ingenious technologies from the fields of robotics and automation, we provide our commercial consumers an even safer and more efficient service. »
Real Ventures: What you require to understand
Real Endeavor is a Silicon Valley-based venture capital company that invests in early-stage technology startups. With $2.8 B (approx EUR2.4 B) under management, the VC firm has assisted more than 300 business launch and scale their companies, producing over 25,000 tasks worldwide.
« Numerous elements of the building industry stand to benefit immensely from robotic intelligence and RaaS offerings, » said Puneet Agarwal, partner at True Ventures.
« The KEWAZO group has a strong track record and tested service that addresses a substantial requirement in a vital part of the industry, » he added.
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