Path Robotics is an American-based company. The startup specializes in the development of fully autonomous and intelligent robotic welding cells. It is a fairly new startup that has only been in existence for nearly seven years, but in the short time it’s been around, the business has made remarkable progress in becoming established as a leader in new segments of the technology sector of business. To help you become more familiar with the firm, here are 20 things that you probably didn’t know about Path Robotics.
1. Path Robotics was founded by four first-timers
According to Crunchbase, the four-person team of co-founders responsible for establishing Path Robotics was newbies. The group includes Alex Lonsberry, Andrew Lonsberry, Ken Lonsberry, and Matthew Klein. this is the first experience in launching a new startup for all of them. None of the founders were previous business owners before they formed Path Robotics.
2. Path Robotics is a potential disruptor
The headquarters for Path Robotics is located in Columbus, Ohio. It is a tech company that has the potential for disrupting the tech industry. It specializes in new and innovative robotics and automation technology with the capability of solving the general problem in manufacturing. Specialized technology has the potential to make machines learn new things, adapt to new situations, and solve general problems, much the way that humans can. This is a type of next-generation machine learning applied to automation and robotics that has potentially life-changing impact potential within the manufacturing segment of the industrial world.
3. Path Robotics falls under four big tech classifications
While some tech companies specialize in one specific type of technology, the Path Robotics platform falls under four separate categories. The advanced technology products it provides clients employ the use of artificial intelligence, along with machine learning. Robotics and Big Data add the third and fourth technologies that are blended to create its powerful software applications.
4. Path Robotics is made up of a small executive team
There are just four members on the executive team that leads Path Robotics. Each member is one of its co-founders. Andrew Lonsberry is the co-founder and chief executive officer. Ken Lonsberry is a co-founder and CSCO. Alex Lonsberry is a co-founder and chief technical officer. Matthew Kelin is a co-founder and the robotics team lead for the company. There is currently one known board of directors member associated with Path Robotics.
5. Path Robotics uses 30 technologies for its website
The website that represents Path Robotics uses 30 different technologies to power its website. It uses Viewport Meta, iPhone/Mobile Compatible, and SSL Default, just to name a few. This is just for powering the website and does not include the advanced and innovative technologies that are blended in the development of its software platform. So far, Path Robotics has secured 2 registered patents associated with the Testing category for its software products. This protects the intellectual property and prevents predatory competitors from stealing the unique technology for use in other business solutions.
6. Path Robotics is a middle-stage venture-capital-backed company
Path Robotics has attracted six investors who have confidence in the solidity and likelihood of its profitability in the future. It has raised a total of $71 million in funding over a series of 3 rounds of fundraising. The most recent round was a Series B round that closed on May 3, 2021, led by Basis Set Ventures, Addition, and five other investors. A Seed round closed October 28 2018 raising $2.5 million led by Lemnos Venture Capital, followed by a Series A round led by Drive Capital, raising $12.5 million.
7. Path Robotics is a privately held company
Path Robotics is still in the early stage of its development, but it is making significant progress. It is a privately held company that is still under the control and ownership of its four co-founding partners. So far, there has been no indication that there are plans to take the company public. What this means is that you are not likely to see it offered on a public stock exchange anytime soon. It has ample financial resources to fund any growth and expansion expenses without the need to sell shares.
8. Path Robotics has a workforce of 88 employees
According to LinkedIn, there are currently 88 people employed at Path Robotics. There is evidence to suggest that Path Robotics is gearing up to grow and expand its outreach. There are currently 16 job positions available within the business. All of the available openings are for the Columbus, Ohio area, where the headquarters is located. Jobs for technicians in computer vision, machine learning, and other high-tech specializations are open. This is a sure sign that Path Robotics is ramping up its operation.
9. Path Robotics is improving its current products
In one of the job announcements, we read that the new hires will be responsible for developing new features for the current technology products that Path Robotics offers. We can safely infer that the software solutions currently offered are going to be improved with been more useful features added. This is exciting news to current users. We also noticed that Path Robotics stresses debugging skills as an important requirement for its workforce. This tells us that they’re also concerned with user satisfaction, ease of use, and top notch-performance of its products.
10. The mission of Path Robotics is simple
A simply stated mission reveals the overarching goal of Path Robotics. It’s to enable robots to build so humans can focus on acts of creation. It’s about using the time to advantage and training robotic machinery to perform the necessary physical functions. Path Robotics aims to use deep machine learning with artificial intelligence to help robotic systems to figure out simple solutions for general problems. This has the potential to cut n half the need for human maintenance and supervision. The implications of this technology could result in significant savings for clients in the manufacturing industry.
11. Weld Cells are the chief product for Path Robotics
Path Robotics explains its chief product, the weld cell. This weld cell is installed with the ability to replace human welders with a robotic system that creates perfect welds every time. Precision welding means there will be no mistakes made due to human error. It eliminates the risk of accidents on the job from burns or vision loss from welding flashes. There is no programming required with Path Robotics weld cells, just installation. It’s a tool for efficiently increasing the output of welded items which in turn saves time and money.
12. Path Robotics has a happy workforce
According to Glassdoor, Path Robotics is a company that has received exceptionally high reviews for its workplace environment. The overall rating is 4.4 out of 5 with a 90 percent approval rating from employees who participated in the ratings and reviews questionnaire. It’s a company that they would recommend to a friend.
13. The CEO has a high approval rating
Investors are happy to know that out of 19 responses, CEO Andrew Lonsberry has a 91 percent approval rating. He is doing a great job of leading the company and keeping the teams of engineers and technicians satisfied with the work environment, the resources, and the compensation received. The only comment about improvement is to take into consideration more of the worker/manager feedback for areas that could be improved.
14. Path Robotics also uses computer vision technology
Another piece of the complex technology that goes into the new weld cell technology is computer vision. This enables the robotic to collect data that is processed through its artificial intelligence programs to differentiate between the parts and to make the necessary adjustments, just like a real person would. It also uses a complicated scanning system to obtain data. It’s a complex array of functions that achieve perfection with every weld. Imagine a world where smart machines and robots are used to create even more precision work than human artisans. It could signal a change in the types of jobs that will be available shortly. What will people do for work when machines are taking their place on assembly lines? Could this be a technology that displaces the human factor?
15. The Lonsberrys aim to make machines smarter
According to Techcrunch, the founders of Path Robotics identified a problem in the welding industry. They believe that the future of manufacturing is hinged on the capability of robotics. If this is true then the problem that exists is that machines are not smart enough to troubleshoot general issues that happen under everyday manufacturing conditions. One of their goals is to fix this problem and create robotics that has a high capability for adjusting to unusual or irregular circumstances with the same reasoning that a human would use, without missing a beat.
16. Path Robotics is out to solve a second problem
The second issue that the founders of Path Robotics plan to address are the projected deficiency in the welding workforce that is expected. It’s been predicted that there will be a shortage of an estimated 400,000 welders in the workforce by the year 2024. This is in part by the pandemic that the American Welding Society claims to be a factor. Path Robotics has the potential for filling this gap to help companies maintain a high rate of production to continue to supply the world with essential products across a broad range of different industries. This is a solution that is intended to ward off a problem that could lead to worldwide shortages in a variety of different products that require welding in their construction. Path Robotics is stepping in to help fill the gap and ensure that we don’t see more businesses fold up as a result of the loss of workers in a worldwide crisis where major cities, as well as smaller towns, have shut down and issued stay at home orders because of a deadly threat to the health of the world’s populations.
17. Path Robotics has not disclosed its valuation
As of 2021, Path Robotics has not yet shared its current company valuation, if it is known. Since it is not a publicly traded entity, they have every right to keep this information between the owners and the investors, until it would be more advantageous to share the net worth of the business.
18. Path Robotics offers an affordable business model
According to its official website, Path Robotic offers manufacturing companies technology that does not require any up-front costs for installation. The model for payment that is used is on a pay-as-you-go basis. It is a subscription-based payment service that is scalable for the size of the company and its unique needs.
19. Path Robotics offers a demo
To help companies get started with this new type of smart robotic welding aid, they offer demonstrations. You can contact the company to book a demo with Path Robotics that will show you how the technology can help to boost the productivity of your business. This helps smaller businesses to get an idea of whether or not robotic weld cells are the best solution for their operations.
20. Path Robotics is a company to keep your eye on
Information about Path Robotics is just beginning to emerge. It’s a 6-year-old company that has made a significant process in developing automated technology that can create superior welds for manufacturing companies. In as much as it will be possible for machines to think and problem solves, they aim to continue to develop smart technologies for weld cells that deliver a perfect weld regardless of the environmental factors. Not much is known about Path Robotics as it is still in the early stages of development, but it’s a company that bears watching. It has the potential to change the welding and manufacturing industry in some very profound ways in the years to come.