PaintJet, a Hendersonville, TN-based robotic painting company, raised $20M in Series A funding.
The round was led by Outsiders VC with participation from Dynamo, Pathbreaker Ventures, MetaProp and VSC Ventures. This brings PaintJet’s total funding to $14.75M.
The company intend sto use the funds to move its headquarters from Nashville to Virginia and scale its robotic painting business.
Led by CEO Nick Hegeman, PaintJet multiplies painter productivity by integrating robotics throughout the entire coating process. The startup provides a comprehensive service inclusive of its robot and proprietary paint and maintains oversight of the painting process from start to finish. This model enables PaintJet to tap into the $200 billion paint market without being reliant on a shrinking workforce. Designed with the construction operating environment in mind, it operates by connecting to industry-standard equipment already on site, can be set up and taken down in 30 minutes and is mobile enough to be transported in a pickup or small trailer.
In October 2023, PaintJet released its latest innovations, the Bravo robotic painter and its Alpha Shield paint to provide a complete solution for industrial painting. Additionally, the Bravo robot, powered by predictive analytics imaging, uses 25% less paint overall, driving down operational costs, minimizing exposure to toxic chemicals, and ensuring a higher-quality finish that requires less maintenance over time.
Having already used its solution to paint 1.5M+ square feet of building exteriors and ships, the robotic painting startup increased revenue 4x in 2023. The company’s technology is already used by customers including Prologis, Clayco, Layton Construction, Brinkmann Constructors.
FinSMEs
21/12/2023