Robots might be changing the future of construction.

What’s happening:

• Toronto based property technology startup Promise Robotics has raised $15M USD in a Series A financing round
• Promise Robotics is leveraging robotics technology and artificial intelligence for constructing new homes
• The round was led by Horizons Ventures and saw other notable venture capital participants such as Radical Ventures, Relay Ventures and Alate Partners

Why it matters:

• Robotic startups have been on the rise as technological breakthroughs continue unlock new possibilities in automation, labour and more
• Robotics could potentially play a big role in lowering costs of new construction projects and accelerating the timelines of building both single family homes and multi-story buildings

How it works:

• Promise Robotics uses artificial intelligence to deeply analyze the design and architecture of a building
• It then generates machine instructions that are delivered their robots who can work autonomously

Going deeper:

• Promise Robotics believes their technology can exponentially reduce both costs and greenhouse gas emissions on new construction projects
• Their first small scale factory is being built in Alberta, Canada which will enable partnerships with local homebuilders

By the numbers:

• Since their inception Promise Robotics has raised $25M USD in venture funding

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