Gravis Robotics becomes Europe’s latest robotics unicorn after €172 million Series A
Switzerland-based Gravis Robotics, a ConTech company developing autonomous technology for heavy machinery, has raised €172 million ($200 million) in a Series A round, giving the company an €862 million ($1 billion) post-money valuation – becoming Europe’s latest robotics unicorn. SoftBank is the sole investor in the round, which Gravis says is the largest Series A […] The post Gravis Robotics…
Swiss robotics startup Gravis Robotics has achieved unicorn status after securing €172 million ($200 million) in a Series A funding round, propelling the company's post-money valuation to €862 million ($1 billion). This investment, led by SoftBank and described as the largest Series A financing in construction robotics to date, marks a significant milestone for Europe's robotics industry.
Gravis Robotics, a ConTech company headquartered in Switzerland, specializes in developing autonomous technology for heavy machinery. The company's innovative approach involves retrofitting existing excavators and other heavy equipment with its Gravis Rack, a system that integrates sensors, computing hardware, and software to enable autonomous operations.
Co-founder and CEO Ryan Luke Johns emphasizes that Gravis' technology is designed to enhance productivity by enabling operators to manage multiple highly productive machines simultaneously, rather than replacing personnel with autonomous equipment. The company's autonomous systems are capable of performing a range of tasks, including driving, trench digging, bulk excavation, truck loading, and stockpile management.
The Gravis Rack is adaptable to over a dozen brands, models, and sizes of machinery, from smaller 10-tonne equipment to larger units. Gravis Robotics has already made strides in the construction sector, with its autonomous systems being utilized across four continents. Notable clients include Holcim, Taylor Woodrow, and HD Hyundai.
The company's technology has demonstrated a 30% productivity improvement on various projects, showcasing its effectiveness in real-world applications. Gravis' technology is being deployed in diverse industries, such as highways, utilities, oil and gas, quarries, and data center construction, as the demand for infrastructure growth aligns with increasing investments in AI and computing capacity.
The company plans to leverage the new funding to expand its team, enter new international markets, and scale the deployment of autonomous machines.
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