# Clearpath Robotics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/clearpath-robotics

- Industry: Industrial Machinery
- Headquarters: Kitchener, Canada
- Website: www.clearpathrobotics.com
- Total disclosed funding: $75M
- Latest round: Series C (Sep 22, 2020)
- Investors on record: 12

## About

Clearpath Robotics Inc. is a Canadian company specializing in mobile robotic platforms for research and industrial applications, providing innovative solutions that enhance automation and operational efficiency.Founded in 2009 and headquartered in Kitchener, Canada, Clearpath Robotics develops advanced mobile robotic platforms, including unmanned ground vehicles such as the Warthog, Husky, and Jackal. The company has successfully raised a total of USD 30.00 mn across various funding rounds, with its most recent funding round being an Add-on Trade Sale of USD 600.00 mn in September 2023, where Rockwell Automation, Inc. acquired the company from multiple investors including Golden Triangle Angel Network and Caterpillar Ventures. Matt Rendall, the CEO, leads the company in navigating its growth trajectory while focusing on autonomous robotic solutions.Clearpath Robotics specializes in the development and integration of mobile robotic platforms designed for both research and industrial applications. Their core product offerings include unmanned ground vehicles (UGVs) such as the Warthog, Husky, and Jackal, which are tailored for outdoor environments, as well as indoor mobile robots like the Dingo and Boxer. These platforms are equipped with advanced autonomy software enabling users to perform tasks such as autonomous navigation, inspection, and data collection in various settings, ranging from industrial facilities to academic research centers. The company serves a diverse client base that includes large industrial corporations, academic institutions, and research organizations worldwide, particularly in North America, Europe, and Asia. Products are customizable and designed to meet specific operational requirements, allowing clients to effectively address challenges in robotics, automation, and system integration.Clearpath Robotics generates revenue through the sale and integration of its robotic platforms and associated services. The company employs a B2B transaction structure, working directly with clients to provide tailored robotic solutions that fit their specific needs. Business transactions typically involve the purchase of hardware platforms coupled with proprietary autonomy software, ensuring a seamless integration process. Pricing structures vary based on the complexity and customization of the systems, often incorporating initial hardware costs and ongoing support services. Key products such as the Husky UGV and the TurtleBot 4 are integral to their offerings, catering to a market that values both innovation and reliability in robotic solutions. Ongoing partnerships with educational and industrial entities further enhance their revenue opportunities through collaborative projects and integrated systems development.The recent acquisition by Rockwell Automation, Inc. is expected to enhance Clearpath Robotics' capabilities in autonomous production logistics solutions. Moving forward, the company plans to leverage the funding from the acquisition to develop new robotic products that streamline manufacturing processes and expand into additional markets across North America, Europe, and Asia by the end of 2024. The combined expertise and resources are anticipated to facilitate quicker innovation cycles and broaden the scope of collaboration with existing partners.

## Funding rounds

- Series C, Sep 22, 2020, $5M — McRock Capital
- Series C, Jun 1, 2020, $29M — RRE Ventures, Kensington Capital Partners, Inovia Capital, BMO Capital Partners, Export Development Canada
- Series B, Oct 5, 2016, $30M — RRE Ventures, Inovia Capital, Silicon Valley Bank, Eclipse Ventures, Caterpillar Ventures, GE Ventures
- Series A, Oct 15, 2015 — Eclipse Ventures, GE Ventures
- Series A, Mar 18, 2015, $11M — RRE Ventures, Inovia Capital, Eclipse Ventures, GE Ventures
- Seed, Jan 1, 2011 — Golden Triangle Angel Network, SWO Angels

## Investors

- Golden Triangle Angel Network — Seed
- SWO Angels (https://capitalatlas.ai/funds/swo-angels) — Seed
- RRE Ventures (https://capitalatlas.ai/funds/rre-ventures) — Series A, Series B, Series C
- Inovia Capital (https://capitalatlas.ai/funds/inovia-capital) — Series A, Series B, Series C
- Eclipse Ventures (https://capitalatlas.ai/funds/eclipse-ventures) — Series A, Series B
- GE Ventures — Series A, Series B
- Silicon Valley Bank — Series B
- Caterpillar Ventures (https://capitalatlas.ai/funds/caterpillar-ventures) — Series B
- Kensington Capital Partners — Series C
- BMO Capital Partners (https://capitalatlas.ai/funds/bmo-capital-partners) — Series C
- Export Development Canada — Series C
- McRock Capital (https://capitalatlas.ai/funds/mcrock-capital) — Series C