Swap Robotics, a Kitchener, Ontario, Canada-based supplier of photo voltaic robotic operations, upkeep, and automation options, obtained a $3M funding from Array Applied sciences (NASDAQ: ARRY).
Beneath the funding settlement, ARRAY has agreed to offer two further investments of $1M every if Swap attains sure agreed-upon milestones.
The mixing of Swap Robotics’ know-how with Array’s current merchandise will open new prospects to boost undertaking cycle time effectivity and discipline set up financial savings.
Led by CEO Tim Lichti, Swap Robotics is a robotics firm for utility-scale photo voltaic development, operations and upkeep. Within the O&M section, Its robots tackle the administration of the vegetation and the labor expense within the EPC section: laying photo voltaic panels. Each the {hardware} and software program of Swap’s 100% electrical robotics platform is designed and constructed in-house.
Swap Robotics is presently within the strategy of closing a Pre–Collection A funding spherical focusing on strategic traders, together with Array.
FinSMEs
19/11/2024
