Industrial Painting Robots Startup Raises $10M

PaintJet, a robotics company creating industrial painting robots, has raised $10 million in a series A funding round to bring its tech to the construction industry.

The latest funding round was led by Outsiders Fund, with participation from 53 Stations, Dynamo, Pathbreaker Ventures, MetaProp and VSC Ventures. 

It brings PaintJet’s total funding to $14.75 million. 

PaintJet’s robots automate the process of painting commercial buildings, an industry that is currently under pressure from significant labor shortages.

“The American painting sector is in crisis, lacking 100,000 laborers that are needed to meet today’s project demands,” the company said in a statement. “This number is expected to rise due to the increasing frequency and severity of extreme weather events, leading to faster building deterioration and more frequent repainting.” 

Automating the painting process is hoped to alleviate these pressures and help maintain commercial buildings.

"Our latest round of funding has officially signaled that help is on the horizon for the industrial painting industry,” said Nick Hegeman, PaintJet’s CEO. “It's not just about automation; it's about redefining industry standards, addressing labor shortages, and introducing cost-effective solutions that break the mold of traditional painting.”

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PaintJet will also use the funds to relocate its headquarters from Nashville to Virginia in early 2024 and support its expansion into ship-based projects.

According to the company, when used on ships its paint can not only prevent rust and corrosion, but also stop mollusks, algae and fungus from attaching to the bottom of a boat. 

“Without this layer of protection keeping the boat’s bottom smooth, ships can lose 40% of their fuel economy due to increased drag – a significant reason the U.S. Navy has a $3 billion budget just to paint its ships and submarines,” the company said. 

PaintJet unveiled its latest innovations in October with the Bravo robotic painter and its Alpha Shield paint, which combined provide a holistic solution for industrial painting tasks.

The Bravo robot leverages predictive analytics imaging to optimize paint use and uses 25% less paint overall, reducing operational costs and minimizing exposure to toxic chemicals.