PaintJet brings in $10M to hone in on robotic ship portray

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A PaintJet robot applying the company's paint to a building.

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 Sequence A funding. The Nashville, Tenn.-based firm says its industrial portray robots may also help shield infrastructure from untimely growing old. 

As a substitute of promoting or leasing its portray robots, PaintJet offers 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 business,” Nick Hegeman, CEO and co-founder of PaintJet, stated in a launch. “It’s not nearly automation; it’s about redefining business 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 all the exterior of the ability with drones earlier than portray. This means of inspection offers details about the ability’s floor well being and maintenance schedules. It may also be used to determine the challenge’s scope, price, and place to begin for the portray challenge.

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 industrial constructing must be painted for defense from the atmosphere, and that paint must be periodically re-applied. 

At present, the American portray sector lacks 100,000 laborers wanted to satisfy challenge calls for, in keeping with PaintJet. It will solely enhance sooner or later, as buildings will should be repainted extra regularly to maintain up with erosion from extreme climate occasions. 

“The demand for expert labor in development is quickly outpacing the obtainable workforce. PaintJet’s revolutionary options handle this acute labor scarcity whereas making important strides in remodeling the business,” George Easley, Principal at Outsiders who participated within the funding spherical, stated 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 strategy and a force-of-nature crew with uncommon experience in industrial portray. We’re energized to accomplice 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 complete funding up to now 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’s going to make strategic engineering, monetary, and operational hires. 

The corporate hopes that its transfer to Virginia will permit 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.

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