Path Robotics raised US$300 million in Series E funding at a post-money valuation of US$2.45 billion. Georgian led the round. The company builds physical AI for manufacturing, starting with robotic welding.
Funding details
Existing investors Addition, Drive Capital, IronArc Ventures, Tiger Global, and Yamaha Motor Ventures also participated. D. E. Shaw Ventures and NAVER Ventures joined as new investors. The round followed 17-fold annual recurring revenue growth over the past 18 months.
Company context
Path Robotics was founded in 2018. Its customers include HII, Lockheed Martin, and Saronic, as well as mid-sized manufacturers such as EK Machine and TYCROP. Earlier this year it announced a US$600 million performance-based production agreement with HII.
What Path builds
The company's Obsidian model lets robots identify weld joints, plan welds, and adapt to changing conditions. Rove pairs Obsidian with a quadruped robot for mobile welding. The system targets complex, variable welds that traditional automation cannot handle.
The new capital will support expansion beyond welding into new manufacturing tasks and robotic form factors. Path Robotics also plans to increase investment in AI model training. Its workforce is expected to reach 400 employees by year-end.