Built Robotics, the leader in construction autonomy, is announcing the close of 
a $64 million Series C led by Tiger Global, which brings its total funding to 
$112 million. Existing investors including NEA, Founders Fund, Fifth Wall, and 
Building Ventures have joined the round.

"As a leader in autonomous construction technology, Built's focus on 
easy-to-install robotic upgrades for heavy equipment is generating significant 
demand," said Griffin Schroeder, Partner, Tiger Global. "We are excited to 
partner with them as their autonomous trenching solution helps transform the 
construction of solar farms, oil & gas projects, and other large and critical 
infrastructure projects around the world."

Built's upgrade kit, the Exosystem (TM), can be installed and calibrated on an 
excavator in less than a day. Contractors can rent Exosystems as standalone 
units to install on their fleet of equipment, or they can lease pre-upgraded 
excavators from Built directly. Contractors pay an hourly fee to license the 
Exosystem's autonomous software — and depending on utilization — they can 
realize cost savings of 20% or better versus traditional methods. Installation, 
training, and 24/7 support are included, and discounts are available for 
long-term rentals.

"We've spent the past few years neck-deep in R&D, and it's paid off. Our rental 
fleet is fully booked into 2023, and orders keep coming in," said Noah 
Ready-Campbell, CEO of Built Robotics. "The Series C will give us the capital 
we need to ramp production and get our robots into the hands of more 
contractors. And autonomous trenching is just the first step — customers are 
already asking for backfill, compaction, material handling, loading trucks, and 
more."

Tiger Global's investment in Built comes at a time when the industry is broadly 
recognizing Built's leadership in construction autonomy. The International 
Union of Operating Engineers (IUOE), the 400,000-member union representing 
equipment operators in the US and Canada, has signed a first-of-its-kind 
training partnership with Built Robotics. "The IUOE prides itself on having the 
best, most qualified, and safest operators, and our goal is to ensure that the 
best operators know how to use the best tools, and robots are certainly one of 
the tools of the future," commented Russ Burns, consultant to the IUOE and 
retired General Vice President of the IUOE. In addition, the International 
Standards Organization (ISO) has recently appointed Built's Vice President, 
Gaurav Kikani, as a voting member on Technical Committee 127, the committee 
responsible for developing safety standards for autonomous earthmoving 
machinery.

More information about Built Robotics and the Exosystem can be found at: 
builtrobotics.com

About Built Robotics
Built Robotics' mission is to build the robots that build the world. As the 
inventor of the world's first autonomy solution for excavators, the Exosystem 
(TM), Built transforms excavators into fully autonomous trenching robots. 
Exosystems are deployed today across the $1 trillion earthmoving industry, 
building critical infrastructure in energy, telecom, and more.


SOURCE:  Built Robotics

CONTACT: Erol Ahmed, Built Robotics
         +1-415-343-7870, communications@builtrobotics.com