Path Robotics raises $100 million Series D to drive AI-enabled robotic welding growth
Image: Path Robotics
Path Robotics, a Columbus-based AI-powered robotic welding startup, has raised a $100 million Series D fundraising round led by Matter Venture Partners and Drive Capital.
The investment will accelerate Path’s mission to revolutionize the manufacturing industry by addressing labor shortages and advancing autonomous welding solutions.
Built in Ohio
Path Robotics was founded in 2018 by brothers Andy and Alex Lonsberry while working on their PhDs at Case Western Reserve University in Cleveland after they discovered a massive opportunity to rethink welding.
Today, the company's first robotic welding systems are transforming the manufacturing industry by allowing hardware to do so much more, with much less human input.
Path offers cutting-edge AI, robotics, and machine learning technologies to automate welding processes. Their products, deployed across the U.S. and Canada, enable manufacturers to streamline operations, boost productivity, and onshore production.
Why this matters to Ohio
Path predicts a significant shortage of 400,000 welders by 2024, making it increasingly difficult for manufacturers to retain skilled labor. As the demand for welders grows, competition for talent will intensify.
To address this shortage, manufacturers worldwide are rapidly turning to automation and robotics. The market for robotic welding solutions is expected to experience exponential growth, with forecasts projecting it to reach $10 billion within the next five years, highlighting the critical role of technology in bridging the labor gap.
As Path Robotics scales its operations, the company is positioned to lead the charge in revitalizing American manufacturing, using AI to fill crucial gaps in skilled labor and drive profitability.
This $100 million investment solidifies Path Robotics as a frontrunner in advanced manufacturing technology, with the potential to transform the future of factory automation not just in the U.S., but globally.
What they’re saying
“This investment from Matter Venture Partners is valuable, but their expertise and relationships are just as meaningful. The manufacturing industry’s challenge with the shortage of welders is not going away and they understand the nuance of what we’re tackling. They are aligned with us in our beliefe that to rebuild manufacturing we are going to have to create autonomous systems that can take on the labor challenges currently plaguing American manufacturing.”
- Andy Lonsberry, Co-Founder and CEO of Path Robotics
“As a firm, we seek out transformative technologies that solve pressing, real-world challenges –– and Path Robotics exemplifies that vision. Path’s AI robotics technology is a game changer for manufacturing, starting with addressing critical labor shortages in welding but with potential far beyond that. We are incredibly proud to partner with Andy and the Path Robotics team in their mission to revitalize American manufacturing and lead the future of AI robotics in the factory.”
- Haomiao Huang, Founding Partner at Matter Venture Partners
“America is leading the way in AI, but has fallen behind in manufacturing and the hard skills that enable it. No Longer. Path Robotics represents a sea change in how America builds things and sets the country on a course to once again be a manufacturing powerhouse.”
- Nick Solaro, General Partner at Drive Capital