A publicly traded shipbuilding giant is making a bet on something new: robotics.
What’s happening:
- Path Robotics has landed a deal with HII (NYSE: HII) worth up to $600M USD to deploy autonomous welding and assembly automation across shipbuilding programs for the United States Navy
Why it matters:
- This is the single largest deal that Path Robotics has ever done with a publicly traded company
Going deeper:
- HII will validate Path Robotics through a development phase which will test their robots capabilities for welding, blasting, grinding and assembly
- Path Robotics’ AW-3 robot and Rove robot are capable of autonomously scanning weld joints with lasers and cameras and generating a real-time, custom welding plan for each individual part
- Path Robotics has raised more than $270M USD in venture capital funding and is backed by Tiger Global, Drive Capital and Matter Venture Partners
The intrigue:
- HII has also entered into a deal with GrayMatter Robotics to use their robotics arms and systems robots for surface preparation, coating and inspection
