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- Built Robotics
Built Robotics Valuation, Funding & Investors
Built Robotics is valued at $345M as of April 2022.
Last Built Robotics valuation
$345M
Series C · Apr 2022
Last Built Robotics funding round
$64M
Series C · Apr 2022
Cumulative funding Built Robotics raised
$112M
across 3 funding rounds
Key investors in Built Robotics
New Enterprise Associates
Founders Fund
Building Ventures
Tiger Global
Great Oaks Venture Capital
Pareto Holdings
About Built Robotics
Built Robotics is a San Francisco-headquartered developer of autonomous heavy machinery for earthmoving and excavation in solar farm construction. The company's retrofit kits enable excavators and dozers to operate unmanned, integrating LiDAR, GPS, and AI for precise grading. Built Robotics deploys fleets on utility-scale solar projects in California and Texas to automate repetitive tasks.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$345M (Apr 2022)
Built Robotics Valuation
Built Robotics is currently valued at $345M, based on its Series C in April 2022.
The $64M round was led by Tiger Global, with participation from New Enterprise Associates, Building Ventures, Fifth Wall and Founders Fund.
Built Robotics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2022 | Series C | $345M |
Built Robotics Funding History
Built Robotics has raised a total of $112M across 3 funding rounds.
Built Robotics' first fundraising round was a $15M Series A in October 2017. The most recent completed round was a $64M Series C in April 2022.
Built Robotics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2022 | Series C | Tiger Global (lead); New Enterprise Associates; Building Ventures; Fifth Wall; Founders Fund | $64M | $345M | Built Robotics develops autonomous construction technology, focusing on retrofit kits like the Exosystem that upgrade existing excavators to operate without human drivers, enabling precise trenching for projects such as solar farms and oil/gas infrastructure. Contractors can rent the kits or lease pre-upgraded machines, paying hourly fees for the software, which reduces costs by about 20% compared to manned operations. The company's rental fleet was fully booked into 2023 at the time of the funding announcement. On April 7, 2022, Built Robotics raised $64 million in a Series C round led by Tiger Global, with participation from existing investors Building Ventures, Fifth Wall, Founders Fund, and New Enterprise Associates, bringing total funding to $112 million. The capital is intended to ramp up production of robotic upgrades and expand into additional vehicle types like backhoes, compactors, and loading trucks. |
| Sep 2019 | Series B | N47 (lead); New Enterprise Associates; Building Ventures; Founders Fund; Lemnos VC; Presidio Ventures; Valia Ventures | $33M | - | Built Robotics develops autonomy kits for construction equipment like excavators, bulldozers, and skid steers, enabling autonomous operation to address labor shortages by allowing one operator to oversee a fleet. The company sells retrofit kits with lidar, GPS, and Wi-Fi integration, plus usage fees for autonomous mode, targeting the earthmoving industry. In September 2019, Built Robotics raised a $33 million Series B round led by Next47 (N47), Siemens' investment arm, with participation from Building Ventures, Founders Fund, Presidio Ventures, Lemnos VC, and NEA. This followed a $15 million Series A in 2017, bringing total funding to $48 million at that time. Next47's T.J. Rylander joined the board. At the time of the Series B announcement, Built Robotics had grown its team to about 40 people, roughly doubling headcount in recent months. The funding supported expansion of its self-driving construction technology. Later developments included a $64 million Series C in April 2022 led by Tiger Global, increasing total funding to $112 million, with a fully booked rental fleet into 2023 and focus on autonomous trenching for solar farms, oil & gas, and infrastructure. Built Robotics positions itself as a leader in construction autonomy, partnering with unions like the International Union of Operating Engineers for training. The company continues developing robotic upgrades for heavy equipment. |
| Oct 2017 | Series A | New Enterprise Associates (lead); Edward Lando; Cthulhu Ventures; Pareto Holdings; Great Oaks Venture Capital; Founders Fund | $15M | - | Built Robotics raised a Series A round on October 6, 2017, led by New Enterprise Associates with participation from Founders Fund, Great Oaks Venture Capital, and others including Edward Lando and Pareto Holdings. The company develops autonomous technology for heavy construction equipment like excavators to enable operator-free earthmoving in the construction industry. This early-stage round supported initial development of retrofit autonomy kits for transforming existing machines into robots. Built Robotics has continued raising capital in subsequent rounds, including a Series B in September 2019 and a $64 million Series C in April 2022 led by Tiger Global Management, bringing total funding to $112 million across five rounds. Investors have included Building Ventures, Fifth Wall, and existing backers like NEA and Founders Fund. The company targets the $1 trillion earthmoving sector with products for precise autonomous digging in applications like solar farm construction. |
Who has invested in Built Robotics?
13 investors have backed Built Robotics across its funding rounds, including New Enterprise Associates, Founders Fund, Building Ventures, Tiger Global, Great Oaks Venture Capital and Pareto Holdings.
Lead investors include Tiger Global, N47 and New Enterprise Associates.
Built Robotics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2017 | ||
| 3 | Participant | Oct 2017 | ||
| 2 | Participant | Sep 2019 | ||
| 1 | Participant | Oct 2017 | ||
| 1 | Lead | Sep 2019 | ||
| 1 | Participant | Oct 2017 | ||
| 1 | Participant | Oct 2017 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Oct 2017 | ||
| 1 | Lead | Apr 2022 | ||
| 1 | Participant | Sep 2019 | ||
This data is available for Pro users. Sign up to see all 13 Built Robotics investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Built Robotics
Built Robotics has acquired 1 company to date.
Last acquisition by Built Robotics was on January 24th 2023. Built Robotics acquired Roin Technologies for undisclosed valuation.
Latest Acquisitions by Built Robotics
| Description | Roin Technologies is a San Francisco-headquartered robotics company founded in 2020 that automates commercial concrete construction. Its autonomous robots pour, finish, and place concrete for floors and walls, reducing labor needs on job sites. Roin deploys machines on projects in the United States, partnering with general contractors for high-rise and warehouse builds to accelerate timelines and minimize errors. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 24 Jan 2023 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Built Robotics acquisitions and their M&A valuation multiples. Start Free Trial | |
Built Robotics Competitors
Built Robotics competitors include listed companies like Swarmer and Volatus Aerospace, and private ones like Mighty Buildings, RoboForce, Uhnder and Orbit Technologies.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $5M | - | $325M | 65.0x | ||
| Publicly listed | $310K | ($8M) | $342M | 101.7x | ||
| Private | - | - | $350M | - | ||
| Private | - | - | $350M | - | ||
| Private | $29M | $6M | $356M | 12.3x | ||
| Publicly listed | $25M | ($8M) | $332M | 11.1x |
Built Robotics Public Comps
Built Robotics is still privately-owned, but its public comps include Swarmer, Aydem Yenilenebilir Enerji, IC Enterra, Volatus Aerospace, Montauk Renewables, Gevo, SINOTECH Co, BayWa, Lydia Yeşil Enerji and Palladyne AI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $310K | ($8M) | 1023.2x | 101.7x | (37.3x) | (29.1x) | |||
| $265M | $75M | 3.1x | 2.2x | 11.0x | 5.7x | |||
| $86M | $52M | 6.5x | 5.1x | 10.9x | 6.9x | |||
| $25M | ($8M) | 12.5x | 11.1x | (37.6x) | (38.6x) | |||
| $176M | $32M | 2.6x | 2.3x | 14.1x | 9.5x | |||
| $161M | $7M | 3.2x | 2.7x | 71.7x | 10.7x | |||
| $263M | $2M | 1.6x | 1.7x | 282.7x | - | |||
| $25B | ($901M) | 0.3x | 0.5x | (6.9x) | 43.0x | |||
This data is available for Pro users. Sign up to see all Built Robotics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Built Robotics
| When was Built Robotics founded? | Built Robotics was founded in 2016. |
| Where is Built Robotics headquartered? | Built Robotics is headquartered in San Francisco, CA, United States. |
| Is Built Robotics publicly listed? | No, Built Robotics is a private, VC-backed company. |
| What is Built Robotics' valuation? | Built Robotics was last valued at $345M in its Series C in April 2022. |
| How much funding has Built Robotics raised? | Built Robotics has raised $112M across 3 funding rounds. |
| What was Built Robotics' last funding round? | Built Robotics' last funding round was a $64M Series C in April 2022, led by Tiger Global. |
| Who are Built Robotics' investors? | Built Robotics' investors include New Enterprise Associates, Founders Fund, Building Ventures, Edward Lando, N47, Cthulhu Ventures, Pareto Holdings, Fifth Wall, Great Oaks Venture Capital, Tiger Global and 3 others. |
| Which companies are comparable to Built Robotics? | Companies comparable to Built Robotics include Mighty Buildings, Swarmer, RoboForce, Uhnder, Orbit Technologies and Volatus Aerospace. |
| How many companies has Built Robotics acquired? | Built Robotics has acquired 1 company, including Roin Technologies. |
See companies similar to Built Robotics
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