{"id":12220,"date":"2023-01-25T10:26:38","date_gmt":"2023-01-25T18:26:38","guid":{"rendered":"https:\/\/essential.construction\/news\/robotics-firm-kewazo-gets-a-10m-lift\/"},"modified":"2023-01-25T10:26:39","modified_gmt":"2023-01-25T18:26:39","slug":"robotics-firm-kewazo-gets-a-10m-lift","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/robotics-firm-kewazo-gets-a-10m-lift\/","title":{"rendered":"Robotics firm Kewazo gets a $10M lift"},"content":{"rendered":"

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Company:\u00a0<\/strong>Kewazo
Funding amount:\u00a0<\/strong>$10 million
Lead Funder: <\/strong>Fifth Wall<\/p>\n<\/div>\n

Munich-based construction robotics firm Kewazo grabbed another $10 million in a Series A funding round Jan. 23, doubling to $20 million its total seeding to date, according to a company press release<\/span><\/span><\/a>.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Kewazo\u2019s Liftbot machine is an automated hoist that brings material to height for scaffolding assembly, a $50 billion industry in which the firm says more than 80% of projects are still undertaken completely manually. But it can also be used as a robotic hoist for other materials.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

The company claims that Liftbot, which can be installed by two workers in 20 minutes, saves 70% of man hours in scaffold assembly. That not only addresses construction\u2019s labor shortage, it simultaneously helps reduce the risk of accidents in a notoriously dangerous industry.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

For that reason, robotics and construction are a natural fit. The global construction robotics market is poised <\/span><\/span><\/span><\/span><\/span><\/span>to reach $164 million by 2030<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a>, according to Straits Research, with the U.S. and Europe the largest geographic areas for adoption.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Kewazo\u2019s latest funding round was led by New York City-based real estate technology venture firm Fifth Wall, with participation from Boston-based Cybernetix Ventures, Austin, Texas-based Unorthodox Ventures and Munich-based construction software company Nemetschek. Existing investors True Ventures, based in Silicon Valley and MIG Capital AG, headquartered in Munich, also participated.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Beyond scaffolding, Liftbot can help with insulation, painting and on-site material transport, Kewazo claims. While working, the machine collects key operational data that can be fed into its Onsite analytics platform, providing transparency to what happens on a jobsite and enabling data-driven project management.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

While the solution has mostly been used in Europe to date \u2014\u00a0a dozen Liftbots already work at plants in the oil, gas, energy and chemical industries \u2014\u00a0Kewazo says that the additional funding will support expansion overseas.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

\u201cThis influx of capital will propel us to expand our sophisticated robotic fleet across Europe and North America, in tandem with enabling us to build out our additional digital services,\u201d said Artem Kuchukov, Kewazo\u2019s CEO, in the release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n