b'B U S I N E S S I N V E S T M E N TBuilt Robotics Raises $64Mto Upgrade Excavators with Robotics Built Robotics, SCOA investment companyand leader in construction autonomy,announced the close of a $64 million Series C funding round led by Tiger Global,bringing its total funding to $112 million inApril 2022. Existing investors, including NEA,Founders Fund, Fifth Wall, and BuildingVentures, have joined the round.As a leader in autonomous construction tech-nology, Builts focus on easy-to-install robotic upgrades for heavy equipment is generating sig-nificant 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.Builts upgrade kit, the Exosystem, can beinstalled and calibrated on an excavator in less Weve spent the past few years neck-deep in R&D, and than a day. Contractors can rent Exosystems as standalone its paid off. Our rental fleet is fully booked into 2023, andunits to install on their fleet of equipment, or they can leaseorders keep coming in, said Noah Ready-Campbell, CEOpre-upgraded excavators from Built directly. Contractors of Built Robotics. The Series C will give us the capital wepay an hourly fee to license the Exosystems autonomous need to ramp production and get our robots into the handssoftwareand depending on utilizationthey can realize of more contractors.cost savings of 20% or better versus traditional methods.Installation, training, and 24/7 support are included, anddiscounts are available for long-term rentals. of the tools of the future, commented Russ Burns, consultant Weve spent the past few years neck-deep in R&D, and itsto the IUOE and retired General Vice President of the IUOE. paid off. Our rental fleet is fully booked into 2023, and ordersIn addition, the International Standards Organization (ISO) keep coming in, said Noah Ready-Campbell, CEO of Builthas recently appointed Builts Vice President, Gaurav Kikani, Robotics. The Series C will give us the capital we need toas a voting member on Technical Committee 127, the com-ramp production and get our robots into the hands of moremittee responsible for developing safety standards for autono-contractors. And autonomous trenching is just the first step mous earthmoving machinery.customers are already asking for backfill, compaction, materialThis serves as a step forward in the evolution of this business, handling, loading trucks, and more. said Seth Nishida of Presidio Ventures. Built Robotics is Tiger Globals investment in Built comes at a time when theleading the way and we are very excited to see how this helps industry is broadly recognizing Builts leadership in con- us reach our goals that much sooner.struction autonomy. The International Union of OperatingBuilt Robotics continues its mission to build the robots that Engineers (IUOE), the 400,000-member union representingbuild the world. As the inventor of the worlds first autonomy equipment operators in the US and Canada, has signed a first- solution for excavators, the Exosystem, Built transforms ex-of-its-kind training partnership with Built Robotics. Thecavators into fully autonomous trenching robots. Exosystems IUOE prides itself on having the best, most qualified, and saf- are deployed today across the $1 trillion earthmoving industry, est operators, and our goal is to ensure that the best operatorsbuilding critical infrastructure in energy, telecom, and more.know how to use the best tools, and robots are certainly one Sumitomo Corporation of Americas 9'