Construction Technology Startup KEWAZO Raises 5 Million Series A Funding From True Ventures To Scale Robotic Fleet In the $50 Billion Scaffolding Industry - a shamble of business, entrepreneur
/PRNewswire/ -- Sept. 15, 2021 - NEWSwire & NEWSWIRE Nov. 15th, 20-21. KEWAZO, SK, is the kewzo-based store. The company, a leader in construction robotics, today announced that it closed ten million series A funding round, and raised the total raised to $9 million. True Ventures led the round. The round included the current investor MIG AG, a Munich-based venture capital firm, and one of the founding investors of BioNTech. KEWAZO is digitizing construction with robotics and data analytics. The startup offers a robot robot to generate materials for construction sites and industrial plants.
Initially, KEWAZO focused on scaffolding a $50 billion industry. More than 80 percent of projects are still done manually during the building or dismantling of scaffolding. LIFTBOT is a more efficient assembly by automating manual material transport. Using LIFTBOT saves up to 44 percent of man-hours, which directly addresses the labor shortage, a long-term problem in the industry. The robot reduces the risk of accidents and improves its working conditions on site. With minor adjustments, the technology can be applied to various tasks such as insulation, painting and other on-site material transport.
LIFTBOT collects operational data and provides it to customers through a data analytics platform. These insights help plan and increase profitability, and customers benefit from faster, more predictable projects.
As part of the new investment, we want to expand our robotic fleet in Europe and the U.S., to introduce the RaaS model and to allow further digital services. LIFTBOT saves money, save money and save time.
"With our seed-investment in 2018, Kewazo has gotten from prototype to the scalable LIFTBOT system. Having True Ventures leading Series A rounds leads the company to the next level. "I am proud to continue supporting KEWAZO's international development", says Matthias Guth, MIG Venture Partner and Kewazo Board member
The first batch of LIFTBOTs was successfully delivered to key customers on the EU market. Various world-wide projects include scaffolding assembly at greenfield projects and maintenance jobs at construction sites, oil and gas refineries, power plants and shipbuilding plants. KEWAZO has completed more than 40 pilot and test projects and delivered robots to major customers like Bilfinger, a leading European industrial service provider, on oil and gas sites in Germany.
We tested LIFTBOT during ongoing operations and immediately recognized the potential of the solution, said Alexander Brod, branch manager of Bilfinger Arnholdt in Gelsenkirchen. "With innovative technologies from the fields of robotics and automation, we offer an even safer and more efficient service to our industrial customers."
"So many aspects of the construction industry benefit from robotic intelligence and RaaS," said Puneet Agarwal, partner of True Ventures. "The KEWAZO team has a proven solution and strong track record that addresses specialized need in dozens of critical industries. We're excited to fund that team and help them expand into new verticals in construction and other markets."
About True Ventures about True ventures. True Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology startups. Since it has more than $2.8 billion under management, True provides seed and series A financing to entrepreneurs today's fastest growing markets. True has helped more than 300 companies start and scale their business, creating more and more jobs worldwide. To learn more, visit the website. www.trueventures.com www-trueeventure.se/ www/truise. .
About MIG MIG Verwaltungs AG (MIG AG) is one of the leading VC investors in Germany. MIG invests in a deep-tech and life sciences company in German-speaking Europe and beyond. The company has invested more than 600 million euros in over 40 companies. MIG's portfolio companies develop innovations in areas such as biopharmaceuticals, artificial intelligence, machine learning, quantum technologies, digitization / IoT, precision medicine and digital medicine. The MIG investment portfolio currently consists of 30 companies. For more information, visit www.mig.ag.
About KEWAZO About about KSZA? KEWAZO, a Munich-based robotics company, digitizes construction with robotic and data analytics. The company integrates robotics platform LIFTBOT on-site, to enable further digital services. In scaffolding, LIFTBOT saves up to 44 percent of labor costs, improves labor safety and addresses labor shortages. KEWAZO is a data-based solution for its customers along with the robotic system, and it provides scalable data analytics solutions to ensure high level of transparency and better project management. The company works closely with large scaffolding companies and industrial service providers. For more information, please go to the contact page. www.kewazo.com www -keros.
KEWAZO has the media contact for kewzao. Escalate PR [email protected] 617-312-5942; 6318-318-5842.
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The website is a kewazo.com site.