US-based automated infrastructure inspection robot developer Gecko Robotics has raised $40m in series B funding from backers including Next47, a corporate venturing subsidiary of industrial appliance and technology producer Siemens.
Venture capital firm Drive Capital led the round, which also featured Founders Fund, Y-Combinator and private investors including Mark Cuban, Josh Reeves and Jake Seid.
Founded in 2016, Gecko has developed industrial inspection robots with the ability to climb walls. It will use the series B funding to further expand its business while recruiting software and product engineers to enhance its data capabilities.
Gecko closed a $9m series A round in April this year that included Founders Fund, The Westly Group, Y Combinator, Mark Cuban and fellow angel investor Justin Kan. The company also named Gokul Rajaram and Paul Buchheit as existing investors this week.
Jake Loosararian, co-founder and CEO of Gecko Robotics, said: “We are growing fast solving a critical infrastructure problems that affect our lives, and can even save lives. At our core, we are a robot-enabled software company that helps stop life threatening catastrophes.
“We have developed a revolutionary way to use robots as an enabler to capture data for predictability of infrastructure; reducing failure, explosions, emissions and billions of dollars of loss each year.”
