Fenwick & West represented Built Robotics, a company developing AI guidance systems to transform heavy equipment into autonomous robots, in its $33 million Series B financing led by Next47, the global venture fund backed by Siemens. Additional investors include Building Ventures and current Built Robotics backers such as Founders Fund, NEA, Lemnos, and Presidio Ventures. Built Robotics also added T.J. Rylander, partner at Next47, to its board of directors.
Built Robotics will use the capital to scale its fleet of autonomous robots, expand into new construction verticals and develop tools to support the next generation of equipment operators. More information about the financing can be obtained from the company's announcement.
The Fenwick transaction team included corporate partner Steven Levine and associates Will Black, Elliot Ginsburg and Samuel Fleuter.