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- 5 months ago
Industrial robotics startup Gecko Robotics has raised $40 million in a series B round of funding led by Drive Capital, with participation from Peter Thiel’s Founders Fund, Y Combinator, and Next47. Notable angel investors in this round include Mark Cuban, SoftBank senior managing partner Deep Nishar, and Gusto CEO Josh Reeves.
Founded out of Pittsburgh in 2016, Gecko Robotics develops several robots aimed at the power, gas, oil, and manufacturing industries. The robots, which are equipped with HD cameras, sensors, and transducers, can climb walls and equipment to inspect tanks, boilers, and pipes for thickness, cracks, and “other forms of degradation.” Importantly, they use non-destructive techniques such as acoustic, laser, and electromagnetic testing modules, and they can be controlled remotely or self-navigate (depending on the type of equipment they’re analyzing).
However, Gecko positions itself more as a software company, with robots merely serving as the tools that capture the all-important data that could potentially avert dangerous equipment failures in the future. This predictive analytics leans heavily on artificial intelligence (AI), machine learning, and deep learning techniques.