About built robots
SVB is excited to share this success story of Built robots. Invented Exosystem™, an aftermarket upgrade that turns heavy equipment into fully autonomous robots.
Noah Reddy-Campbell grew up in Vermont, working in construction on summer breaks with his father, a building contractor. After creating an e-commerce startup that eBay bought in 2015, he started thinking about a new business idea. He remembers working hot and hard in the summer in high school, when he would often tell his father that it made sense for machines to help out with some work.
Noah delved into the construction industry: low productivity, high costs, labor shortages, and job hazards. Why not take advances in robotics seen in other industries and apply them to construction to make it safer, smarter and more productive? Working with contractors, operators and engineers, he developed his first prototype with his co-founder, Andrew Liang, by borrowing sensors from self-driving cars along with a software suite built from the ground up exclusively for construction applications. In 2016, Built Robotics was born and by 2018, the first piece of independent heavy equipment from Built was doing demolition work on I-5.
Expanding rapidly from the first prototype, Built Robotics has continued to automate equipment, such as excavators, tractors, and cranes. Build’s first applications of autonomy rebuilt roads, created land for new housing, and laid the foundations for wind turbines throughout the Great Plains. Machines helped get workers out of harm’s way to create a safer work site. The company has always worked methodically and thoughtfully to build a reputation for safety.
Silicon Valley Bank is our partner. We trust them and rely on their experience and advice for everything: banking, asset management, debt financing, corporate cards and more. They have consistently demonstrated a thorough understanding of deep technology and robotics, and have always been consistent, reliable partners through all the ups and downs that come with building a company.
Noah Reddy Campbell
Founder and CEO
Build Robotics technology works alongside skilled workers on job sites. To this end, Built has created a new role on the job site: Robotic Equipment Operator (REO). By utilizing their years of construction experience, machine operators receive training and courses to become earthmovers. Once trained, they work with autonomous equipment to help keep and plan the robot working, while freeing up their time to pursue more complex, higher-value tasks. Through REO training, operators can raise their positions and skills and stay competitive with the latest changes in construction technology.
Noah and SVB were introduced during the development of his first company, twice. At SVB, Noah has discovered another exceptional team, equally committed to the success of built robotics. From the start, the SVB team understood its vision for built robots and was eager to support its innovations.
SVB has been a strategic and supportive partner in financing for Built Robotics, offering a variety of debt products to accelerate its growth at every stage, including Series A led by NEA and Series B led by Next47.
Recently, in April of 2022, robots were built Received $64 million in Series C The funding round led by Tiger Global brings its total funding to more than $100 million.
Today, the Built Robotics team operates from its headquarters in San Francisco alongside an office in Australia, and a dedicated research and testing facility on the Peninsula. Noah and his team have built strong relationships with some of the world’s largest construction companies. They have also developed a long-term partnership with IUOE, one of the largest construction associations, to train and certify its members to operate the Exosystem. Using Built Technology, robots face operational challenges from a snowstorm in Nebraska to a 100-degree day in central Australia. Robots are helping improve worksite productivity, keep workers safe, and tackle some of the biggest challenges in building new energy, housing, and infrastructure for the 21st century.
Demand for this early innovator in construction robotics is booming. And while other companies are experimenting with bots for construction and mining, Noah is quick to offer support and advice — including introductions to SVB’s trusted bankers.
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