Take heed to this text

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 Collection A funding. The Nashville, Tenn.-based firm says its industrial portray robots might help shield infrastructure from untimely getting older. 

As an alternative of promoting or leasing its portray robots, PaintJet supplies a complete service inclusive of its robots and proprietary paint. The firm 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 trade,” Nick Hegeman, CEO and co-founder of PaintJet, mentioned in a launch. “It’s not nearly automation; it’s about redefining trade requirements, addressing labor shortages, and introducing cost-effective options that break the mould of conventional portray. I’m grateful to our buyers for backing our mission and enabling us to increase each geographically and throughout new sectors.”

PaintJet begins by inspecting the whole exterior of the ability with drones earlier than portray. This means of inspection provides details about the ability’s floor well being and maintenance schedules. It will also be used to determine the mission’s scope, value, and place to begin for the portray mission.

The corporate’s robots then put together the floor for utility. The robots wash down grime, 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 atmosphere, and that paint must be periodically re-applied. 

Presently, the American portray sector lacks 100,000 laborers wanted to satisfy mission calls for, in line with PaintJet. This may solely improve sooner or later, as buildings will have to be repainted extra regularly 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 modern options deal with this acute labor scarcity whereas making vital strides in remodeling the trade,” George Easley, Principal at Outsiders who participated within the funding spherical, mentioned 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 crew with uncommon experience in business portray. We’re energized to associate with them to develop their crew, 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 should make strategic engineering, monetary, and operational hires. 

The corporate hopes that its transfer to Virginia will enable it to extra simply increase into marine-based initiatives. When used on ships, PaintJet says that its specifically developed paint can forestall 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.