Promise Robotics, a groundbreaking AI company, is revolutionizing the construction industry with its turnkey homebuilding production factories. The company has recently announced that it has raised USD$15 million in Series A funding, bringing its total funding to USD$25 million. This funding will be instrumental in commercializing Promise Robotics’ robotic factory platform and meeting the growing demand from homebuilders across the United States and Canada.
The construction and housing development industries are currently facing severe supply and labor shortages, with a staggering gap of approximately 10.7 million homes in both countries combined. Traditional construction methods simply cannot keep up with the increasing demand for housing, and they also contribute significantly to greenhouse gas (GHG) emissions. Buildings account for 38% of global GHG emissions, and finding more efficient methods of construction is crucial for reducing our carbon footprint.
Promise Robotics offers a game-changing solution by deploying automation at scale, addressing labor shortages, saving costs, and significantly increasing the speed of sustainable home production. Their AI-driven system allows the homebuilding industry to utilize off-the-shelf industrial robots, transformed into ready-to-deploy production systems through Promise Robotics’ proprietary cloud-based operating system. By managing the entire automation lifecycle within factories as a service, Promise Robotics frees up customers to focus on their core business of homebuilding and growth.
“The capital and knowledge barriers have historically hindered the industry’s ability to invest in automation technology,” states Ramtin Attar, CEO and co-founder of Promise Robotics. “We have leveraged our expertise in automated homebuilding and harnessed transformative technology innovations to remove these barriers, enabling broader adoption.”
With a team expansion of 200% in just four months, Promise Robotics is quickly making strides in the industry. The company is already setting up its robotic production line in a micro-factory in Alberta, Canada, and plans to launch its turnkey factory production solution to homebuilders across North America by 2025.
By harnessing automation and AI technology, Promise Robotics aims to reshape the future of homebuilding. With their innovative solutions, they can save billions in costs, significantly reduce GHG emissions, and create thousands of new jobs with each new home built. As Kerry Liu, an investor at Horizons Ventures, states, “Promise Robotics is well-positioned to be a disruptive force in this industry.”
Q: What is Promise Robotics?
A: Promise Robotics is an AI company that offers turnkey robotic production systems for the homebuilding industry.
Q: How does Promise Robotics aim to revolutionize the construction industry?
A: Promise Robotics deploys automation at scale, addressing labor shortages, saving costs, and increasing the speed of sustainable home production.
Q: What are the benefits of Promise Robotics’ solutions?
A: Their solutions save costs, reduce GHG emissions, and generate new job opportunities.
Q: When will Promise Robotics make its turnkey factory production solution available to homebuilders?
A: Promise Robotics plans to make its solution available to North American homebuilders by 2025.
Q: How does Promise Robotics manage the entire automation lifecycle?
A: Promise Robotics offers factory automation as a service, allowing customers to focus on homebuilding and growth.