Lucid Bots, a robotics company based in Charlotte, N.C., has recently announced securing $9 million in Series A funding. The company, originally known for its Sherpa line of drones designed for window cleaning in tall buildings, is now expanding its scope to tackle more labor-intensive tasks.
Founded in 2018 and part of Y Combinator’s 2019 cohort, Lucid Bots aims to develop intelligent robots specifically tailored to handle challenging and undesirable jobs. Andrew Ashur, the founder and CEO, highlighted the company’s mission to address the reluctance of individuals to engage in tasks deemed dull, dirty, dangerous, or demeaning.
The company’s latest innovation, the Lavo Bot, is a pressure-washing robot designed to clean flat surfaces such as sidewalks and driveways, in addition to building facades, windows, and roofs. This expansion was prompted by customer demand for versatile cleaning solutions.
In an industry dominated by major players like Amazon and Google, Lucid Bots distinguishes itself by focusing on developing cutting-edge technology for traditional industries rather than delivery services. Ashur emphasized the company’s compliance with regulations, enabling its drones to operate in urban and suburban environments where delivery drones face restrictions.
Despite challenges in fundraising, particularly for a frontier tech company based in Charlotte, Lucid Bots succeeded in securing investment from Cubit Capital, Idea Fund Partners, Danu Venture Group, and existing investors like Y Combinator’s Growth Fund and Gratus Capital.
Philip Carson of Cubit Capital praised Lucid Bots for its ability to swiftly bring products to market while maintaining cost efficiency. He highlighted the company’s unique approach of domestically manufacturing drones, which proves to be more economical than outsourcing production overseas.
With the new funding, Lucid Bots aims to further develop its portfolio of autonomous robotics, expand its operations, and explore new markets. The company remains optimistic about its growth trajectory, with a revenue of over $3.5 million in 2023 and plans for continued expansion in the coming years.
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