Gecko Robotics Raises $40 Million Series B Round Led by Drive Capital
December 16, 2019 | PR NewswireEstimated reading time: 1 minute
Today, Gecko Robotics announces its Series B funding round of $40 million led by Drive Capital's Mark Kvamme. The round was led by Drive Capital with participation from previous investors including Founders Fund, Next47 and Y-Combinator.
"We are growing fast solving a critical infrastructure problems that affect our lives, and can even save lives," says Jake Loosararian, Gecko Robotics' 28-year-old co-founder and CEO. "At our core, we are a robot-enabled software company that helps stop life threatening catastrophes. We've developed a revolutionary way to use robots as an enabler to capture data for predictability of infrastructure; reducing failure, explosions, emissions and billions of dollars of loss each year."
Ahead of its time in innovation, Gecko Robotics began developing the technology in 2016 to modernize a historically stagnant industry. Gecko Robotics quickly took the lead in modernizing the industrial inspection industry with its wall climbing robot.
"We are very excited for the future of robotics in industrial inspection. The Gecko Robotics team are revolutionizing an industry that is in need of a real upgrade and will save lives," said Mark Kvamme, Lead Investor and Partner at Drive Capital. "I see amazing potential for Gecko's business model, they are on the path to become a market leader in their industry."
Notable angel investors in this round of funding include Mark Cuban, Josh Reeves (CEO of Gusto) and Jake Seid. Previous investors include Justin Kan (founder/CEO of Atrium and Twitch), Gokul Rajaram (Doordash) and Paul Buchheit (Creator of Gmail and Partner at Y-Combinator).
Gecko Robotics plans to use the additional funding to support its quickly scaling business operations, which has already grown from 45 to 115 employees in the past 12 months, focusing on hiring software and product engineers to establish a cutting-edge data company, powered by robots.
Gecko Robotics is headquartered in Pittsburgh, Pennsylvania with offices in Houston and Austin, Texas and Europe.
Suggested Items
The New Chapter: Attracting ‘Generation Green’
03/28/2024 | Hannah Grace & Paige Fiet -- Column: The New ChapterIn the electronics industry, we talk a lot about sustainability in terms of recruitment and retention of the next generation of engineers. But what if the key to sustaining the industry long into the future is through the more common definition of the word? What if, for just a moment, we think about sustainability in terms of the environment and what we as an industry are doing to care for it? Because, if you weren’t aware, Gen Z cares tremendously about the environment and the actions companies are taking to preserve it. Without Gen Z joining the electronics industry’s workforce, we won’t be able to sustain the industry for much longer.
Accenture Invests in Sanctuary AI to Bring AI-Powered, Humanoid Robotics to Work Alongside Humans
03/27/2024 | BUSINESS WIREAccenture has made a strategic investment, through Accenture Ventures, in Sanctuary AI, a developer of humanoid general-purpose robots that are powered by AI and can perform a wide variety of work tasks quickly, safely and effectively.
Don Dennison Appointed to Roll Out KIC’s Latest Thermal Analysis System Software in the Northeast
03/26/2024 | KICKIC, a renowned pioneer in thermal process and temperature measurement solutions for electronics manufacturing, is pleased to announce the appointment of PIT Equipment Services, LLC, led by Don Dennison, as its representative for New York, New Jersey, and Eastern Pennsylvania.
iNEMI/IPC White Paper on Complex Integrated Systems Highlights Future Technology and Manufacturing Ecosystem Needs
03/25/2024 | IPCToday’s system solutions combine more varied functionality, such as digital, analog, optical, micro-mechanical, etc., packed into smaller form factors. As a result, electronics manufacturing has to deliver increasingly complex integration of diverse technologies with system designs that blur the distinction between chip, package, board, and assembly.
Seeking Employment: Meet Gary Turner
03/25/2024 | Barry Matties, I-Connect007Meet Gary Turner, a recent graduate from the University of Texas at Dallas with a bachelor’s degree in mechanical engineering and a master’s in material science and engineering. He is currently seeking employment in the industry. The following interview will allow you to learn about Gary and see if he might be a good candidate for a position you are looking to fill.