PaintJet Secures $20M in Series A Funding to Expand its Innovative Robotic Painting Business and Relocate Headquarters.
PaintJet is revolutionizing the painting industry by integrating robotics to enhance painter productivity.
Company: PaintJet
Location: Hendersonville, TN (Moving headquarters to Virginia)
Sector: Robotic Painting
Funding Details: Raised $20M in Series A funding, bringing the total funding to $14.75M.
- The round was led by Outsiders VC, with participation from Dynamo, Pathbreaker Ventures, MetaProp, and VSC Ventures.
Purpose of Investment: To relocate headquarters from Nashville to Virginia and scale the robotic painting business.
Leadership: CEO, Nick Hegeman
Product: PaintJet offers a comprehensive robotic painting service, integrating robotics in the entire coating process. This includes the Bravo robotic painter and Alpha Shield paint, designed for industrial painting.
About: PaintJet is revolutionizing the painting industry by integrating robotics to enhance painter productivity. The company's unique service includes its proprietary robot and paint, managing the painting process from start to finish. This model allows PaintJet to address the $200 billion paint market effectively.
Key Innovations:
- Bravo Robotic Painter: Utilizes predictive analytics imaging and uses 25% less paint, reducing operational costs and environmental impact.
- Alpha Shield Paint: Complements the Bravo robot, ensuring high-quality finishes with lower maintenance requirements.
- Mobile and Efficient: Compatible with standard industry equipment, quick setup/takedown (30 minutes), and easily transportable.
Clients: Major clients include Prologis, Clayco, Layton Construction, and Brinkmann Constructors.