Lucid Bots, the manufacturer of cleaning drone Sherpa and other robotic products that automate dangerous, labor-intensive tasks, has raised $9.1 million in Series A funding to scale the operations team and expand its products into new markets.
The funding – led by Cubit Capital, with participation from Idea Fund Partners, Danu Venture Group, and existing investors that include Y Combinator’s Growth Fund and Gratus Capital – will help Lucid Bots advance the Lavo Bot pressure-washing robot as well.
As Andrew Ashur, founder and CEO of Lucid Bots, explains, “The demand for dynamic robots represents one of the largest market opportunities of our generation, and we look forward to leveraging this investment to accelerate the execution of our strategy as we expand to serve new customers and better support our existing customers.”
Lucid Bots has built a capital-efficient infrastructure encompassing manufacturing, repairs, training, and customer success domestically built in Charlotte, North Carolina. And this capability, investors believe, is a huge plus for the company.
Here’s Philip Carson of Cubit Capital:
Lucid Bots has pioneered a model where it costs less to build a drone domestically than it would to ship a drone from a manufacturer overseas. These differentiated capabilities, combined with strong revenue growth and a proven team, bring us immense confidence in their ability to win in this exciting, growing market.
Lucid Bots says it is focused on leveraging its differentiated, AI-driven software and sensor platform to expand into new markets as well. The growth plan includes cleaning payloads that rejuvenate urban landscapes agricultural payloads that optimize farming practices and delivery payloads that redefine logistics.
Read more: DJI is urging all pilots to ‘get involved’ amid threat of US drone ban
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