Take heed to this text
![A PaintJet robot applying the company's paint to a building.](https://www.therobotreport.com/wp-content/uploads/2023/12/paintjet-featured.jpg)
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 might help defend infrastructure from untimely ageing.
As an alternative of promoting or leasing its portray robots, PaintJet supplies a complete service inclusive of its robots and proprietary paint. The corporate maintains oversight of the portray course of from begin to end. PaintJet says this permits 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 commercial 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 develop each geographically and throughout new sectors.”
PaintJet begins by inspecting your entire outdoors 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 may also be used to determine the venture’s scope, value, and start line for the portray venture.
The corporate’s robots then put together the floor for software. The robots wash down filth, 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 surroundings, and that paint must be periodically re-applied.
At present, the American portray sector lacks 100,000 laborers wanted to satisfy venture calls for, in accordance with PaintJet. This can solely improve sooner or later, as buildings will must be repainted extra steadily to maintain up with erosion from extreme climate occasions.
“The demand for expert labor in development is quickly outpacing the out there workforce. PaintJet’s progressive options tackle this acute labor scarcity whereas making important strides in reworking 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 workforce with uncommon experience in business portray. We’re energized to accomplice 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 whole 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 can 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.