Skip to main content

Built buys fellow construction robotics firm, Roin

One of the most remarkable things about construction robotics is the sheer breadth of tasks that can potentially be automated. As I’ve noted before, the entire category is a prime target for robotics startups, given that it fills all of the big Ds of automation — dull, dirty and (quite often) dangerous. It’s also one of those areas that have become increasingly difficult to staff, post-pandemic, even as construction work came roaring back.

So, if I’m running a fairly successful company that makes construction robots, I’m certainly thinking of diversification. The quickest way to jump start that is, of course, acquiring another, smaller startup. It’s something I suspect we’ll be seeing with increasing regularity as early-stage firms struggle to get funding to stay afloat amid a broadly stagnating VC market.

Built Robotics, currently best known for its earth excavating autonomous heavy machine, Exosystem, announced today that it has acquired Roin Technologies (putting some of that fundraising to good use). The smaller firm is YC-backed, and best known for its concrete robots, which trowel and shoot (shotcrete) the stuff. In fact, Roin’s URL already redirects to its parent company.

“Since their founding, Roin’s team has pushed the boundaries of construction autonomy, which has created a unique expertise in our industry,” Built Robotics founder and CEO Noah Ready-Campbell said in a release. “With Roin joining Built, the combined teams will continue developing new autonomous construction applications and customers can expect to see robotic applications expanding beyond earthmoving.”

Roin CEO Jim Delaney will be joining Built as part of the engineering team. He notes, “We see joining Built as the next step in Roin’s story. I have always admired what Built has launched and how they’ve moved the construction industry forward in adopting new technologies, and I am excited to have the opportunity to join their team.”

This isn’t one of those cases of a one-to-one technology acquisition. Rather than being competitors, it seems the two construction systems can be potentially complementary, representing two distinct pieces of the broader construction puzzle.

Built buys fellow construction robotics firm, Roin by Brian Heater originally published on TechCrunch



from TechCrunch https://techcrunch.com/2023/01/24/built-buys-fellow-construction-robotics-firm-roin/
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Max Q: Psyche(d)

In this issue: SpaceX launches NASA asteroid mission, news from Relativity Space and more. © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/h6Kjrde via IFTTT
Post a Comment
Read more

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...
Post a Comment
Read more

What’s Stripe’s deal?

Welcome to  The Interchange ! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up  here  so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. —  Mary Ann Stripe eyes exit, reportedly tried raising at a lower valuation The big news in fintech this week revolved around payments giant Stripe . On January 26, my Equity Podcast co-host and overall amazingly talented reporter Natasha Mascarenhas and I teamed up to write about how Stripe had set a 12-month deadline for itself to go public, either through a direct listing or by pursuin...
Post a Comment
Read more