Skyline Robotics closes $9.8M round to bring automated window washing worldwide
Summary
That brings the total it has raised to date to $19.4 million.The company said it plans to use the financing to expand deployments of Ozmo in New York and London, grow its research and development team so it can offer more services, and formalize its new construction line of business.This vote of confidence from the investment community shows not only that our innovation is in high demand, but [also] that we have the team and product investors believe in to automate and move the industry forward, stated Michael Brown, CEO of Skyline Robotics. This round will help us continue to grow the company and enhance our patented technology with new feature sets to maintain building fa\xe7ade health.Skyline Robotics said that it aims to automate all types of work at heights starting with window cleaning. The New York-based company asserted that its patented system will disrupt the $40 billion window-cleaning industry.Ozmo combines artificial intelligence, machine learning, and computer vision with advanced sensors and a KUKA KR AGILUS robot arm, according to Skyline.With Ozmo, window cleaning can be performed up to three times faster than humans, without putting workers at risk, it claimed. Skyline has also obtained patents from Japan and Singapore.The global market for window-cleaning robots could experience a compound annual growth rate (CAGR) of 15.2%, reaching $264.18 billion (U.S.), according to Contrive Datum Insights Pvt. It cited North America and Asia-Pacific as regions leading in demand.Technavio, was more bullish, predicting that the market could surge by $1.8 billion at a 21.44% CAGR, partly because of increasing skyscraper construction, safety and efficiency concerns, as well as technological advancements.