16 December 2019:
Gecko Robotics has raised $40 million in Series B round of funding. The funding round was led by Drive Capital. Founders Fund, Next47 and Y-Combinator also participated din the funding round.
The company will use the fresh capital 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.
Jake Loosararian, co-founder and CEO, Gecko Robotics, said, “We are growing fast solving a critical infrastructure problems that affect our lives, and can even save lives. 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.”
Mark Kvamme, Lead Investor and Partner at Drive Capital, said, “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. I see amazing potential for Gecko’s business model, they are on the path to become a market leader in their industry.”
Gecko Robotics is headquartered in Pittsburgh, Pennsylvania with offices in Houston and Austin, Texas and Europe.
(Image – Gecko Robotics)