Gecko Robotics, the creator of the world’s first wall-climbing ultrasonic testing robot, has raised $100m to advance robots that test manufacturing, defence, and oil industry environments, according to Bloomberg.
The investment in the US-based company is part of an extension to its Series C round last year, which brought the company to a valuation of $633m.
Gecko Robotics serves high-profile customers including the US Navy and Royal Air Force with products that uses artificial intelligence (AI), robotics and defence technology.
The company says its AI-powered software and robots help maintain important assets for the military and other industries.
Gecko recently signed a contract with the Royal Air Force to continue maintaining its fleet of jets and military equipment, as well as aid in the advancement of its nuclear technology.
Speaking in an interview with Bloomberg, CEO Jack Loosararian said: “It’s really sucky that taxpayers are paying for faulty equipment.
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“We have to pay to rebuild and re-manufacture things that should have been caught way earlier in the process.”
Robotics is a fast-growing industry. According to research company GlobalData’s Thematic Research: Robotics 2023 report, it was worth $63bn in 2022, and by 2030, it will have grown at a compound annual growth rate of 17% to $218bn.