Robotics start-up Diamond Age secures $ 8 million seed funding

Diamond Age, a Pleasanton-based robotics startup, has raised $ 8 million in seed funding to automate the construction of new homes.

The funding round was co-led by Prime Movers Lab and Alpaca VC, with participation from companies such as Dolby Family Ventures, Calm Ventures, Gaingels, Towerview Ventures, GFA Venture Partners and Suffolk Construction. This is the first round of funding that the startup has organized since its inception in 2019. Ryan Freedman, general partner at Alpaca VC, referred to the company’s involvement saying:

“We’ve spent a lot of time in the 3D printing and robotic construction space looking for the right team and the right time to market that could really become a category-changing company that defines the industry. real estate construction. We have identified a tremendous opportunity in terms of time, quality and labor efficiency that can be brought to the residential construction market. When we met Jack & Russell, we knew this was the team with the vision and the technical expertise to change the game.

The robotics startup is using 3D printing and robotics to make homeownership more affordable by lowering construction costs. The 26 end-of-arm tools Diamond Age is building could reduce the manual labor required by 55%, reducing build times from about 9 months to just 30 days. Jack Oslan, co-founder and CEO of Diamond Age, spoke about the startup’s mission, saying:

“The affordable housing shortage is a national problem that I want to help solve because it is so deeply personal to me. A few years ago my son and daughter-in-law almost moved from the Bay Area because of the housing shortage. We need to build high quality, affordable single family homes for the next generation who aspires to the American Dream, and the only way to fix that is through automation.

The robotics startup will use the funding to scale its platform and build a 1,100 square foot demo house, raising awareness of the benefits of its solution. The US real estate mortgage is going through a shortage that has left millions of people without access to affordable housing, prompting startups to use AI, robotics and other technologies to improve the construction process.

Source link

About Catherine Wilson

Check Also

“Like a treasure hunt” – NJ liquor stores run out of supplies

Every day, customers of Garden State Discount Liquors in Perth Amboy are faced with purchase …

Leave a Reply

Your email address will not be published. Required fields are marked *