Munich based start-up Kewazo has successfully raised over 1 million euros of seed funding for their scaffolding robot.
The funding will enable Kewazo to bring its robotic solution for scaffolding assembly to the market and to establish the company’s sales and distribution network.
Last month we reported that the Kewazo scaffolding robot aims to make the erection of scaffolding more efficient by delivering scaffolding materials to scaffolders where and when they need them.
The robot moves up, down and along a scaffold by means of a special track attached to horizontal and vertical tubes of the job.
Kewazo can “see” its surroundings, and it can plan its journey to the scaffolders who need the components using a path-finding algorithm, and this can be refined using machine-learning, so the robot builds up a better picture of how its human co-workers operate.
After entering the scaffolding market, the German company plans to apply the system to other construction trades.
Kewazo’s technology has a great market potential the firm says. In Germany alone, the assembly and disassembly of scaffolding generates annual sales of around one billion euro and over 23 Billion euro worldwide.
“We are convinced of Kewazo’s business idea and technology and therefore decided to invest in this start-up at an early stage,” says Michael Motschmann, General Partner and CEO of MIG AG.
“The introduction of modern robotics into a traditional sector such as the construction industry is an extremely exciting and promising approach.
“Kewazo is a pioneer in building automation, which is bringing disruption in the industry. We want to participate in this project right from the start and we believe in supporting a really strong team,” adds Dr. Klaus Feix, Venture Partner of MIG AG and responsible for the investment in Kewazo.
“In addition to financing, MIG contributes great entrepreneurial know-how, from which the young founders can certainly benefit.”