Lucid Bots, a leader in robotics for labor-intensive applications, has successfully raised $9.1 million in a Series A funding round. The investment was led by Cubit Capital and saw contributions from Idea Fund Partners, Danu Venture Group, along with continued support from Y Combinator’s Growth Fund and Gratus Capital. This new funding will support the enhancement of Lucid Bots' existing product lines, including the Sherpa cleaning drone and Lavo Bot pressure washing robot, and aid in scaling operations to meet increasing market demands.
“Today marks an important milestone in Lucid Bots’ journey, and we are immensely grateful to our team, customers, and investors as we build upon the strong market momentum behind our robots that enable customers to do more jobs in less time, with less liability,” stated Andrew Ashur, Founder and CEO of Lucid Bots. “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 established a robust infrastructure for manufacturing, repairs, training, and customer success, all centrally managed from its base in Charlotte, North Carolina. The company's solutions are transforming the autonomous commercial-grade cleaning technology landscape across commercial, industrial, and municipal sectors.
Philip Carson of Cubit Capital praised the company’s approach, saying, “What Lucid Bots has achieved is unheard of in the cleaning robotics industry – they’re able to bring frontier products to market in rapid innovation cycles while being capital conscious. This brings clear sight of profitability and meaningful scale. 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.”
Since its inception in 2018, Lucid Bots has quickly gained recognition for its commercial-grade cleaning robotics, validated across a broad spectrum of applications. The company is keen to harness its AI-driven software and sensor platform to break into new markets. Lucid Bots' versatile robotic solutions, capable of tasks ranging from urban rejuvenation to optimizing agricultural practices and redefining logistics, position the company to capitalize on the projected $100 billion market for intelligent robots in challenging, labor-intensive jobs.
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