After the latest investment round, Kewazo is financed with a total of around 7.6 million euros (9 million dollars). Munich are developing the Liftbot robotic freight elevator. This automates material transport during scaffolding construction. This should enable savings of up to 44 percent of man-hours in this sector. According to the company, 80 percent of all scaffolding is still assembled manually, and there is an acute labor shortage. The robot is also intended to increase occupational safety and prevent accidents. In the future, the Liftbot will be used for other applications, such as on-site material transport. In addition, the robot collects operational data and makes it available to customers via a data analysis platform. This should improve planning and profitability. The first Liftbot series has already been delivered to European customers.
“We are pleased to have found a partner in True Ventures who understands our vision of bringing robot technology to the construction industry,”
says Artem Kuchukov, CEO of Kewazo.
"With this new investment, we plan to expand our robot fleet in Europe and the US, introduce the Robot-as-a-Service (RaaS) model, and enable additional digital services. Liftbot improves worker safety, increases efficiency, and drastically reduces the number of man-hours on projects—all while simultaneously saving costs."
Matthias Guth, MIG Venture Partner and Kewazo Advisory Board Member, says:
"Since our seed investment in 2018, Kewazo has come a long way from prototype to marketable, robust liftbot system. Having True Ventures lead the Series A round takes the company to the next level, and we are proud to further advance Kewazo's international development."
Many aspects of the construction industry could benefit immensely from robot intelligence and RaaS offerings, such as Puneet Agarwal, Partner at True Ventures:
"The Kewazo team has a strong track record and a proven solution that addresses a significant need in a critical part of the industry. We are excited to fund this team and support them in achieving new goals in the construction industry and other markets.
