RoadBotics, Inc.
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RoadBotics, Inc. - overview
Established
2016
Location
Pittsburgh, PA, US
Primary Industry
Software
About
RoadBotics, Inc. utilizes innovative technology to assess and enhance road infrastructure, providing data-driven solutions to improve road safety and usability for municipalities and private sectors alike. Founded in 2016 in Pittsburgh, US, RoadBotics, Inc. specializes in road assessment technology aimed at improving infrastructure conditions.
The company was co-founded by Benjamin Schmidt and Courtney Ehrlichman. In July 2022, RoadBotics was acquired by Michelin Group to enhance data intelligence in road management. The latest round of funding was a Series A in which the company raised USD 7. 50 mn, led by Radical Ventures with participation from Hyperplane Venture Capital and Wharton Angel Network.
This funding round was part of a total amount raised of USD 7. 50 mn, corresponding to 6 investment deals. RoadBotics focuses on providing advanced road assessment solutions tailored for local governments, infrastructure agencies, and private sector partners within the transportation sector. These services include comprehensive road assessments that leverage analytics and data insights to optimize road maintenance, improve traffic management, and promote environmentally sustainable practices, targeting markets primarily in North America, Europe, and select regions in Asia.
The revenue model for RoadBotics is built on partnerships with government entities and private organizations and operates on a project basis. It includes both one-time project revenues and potential recurring fees for long-term advisory and maintenance services, aligning with the needs of clients focused on infrastructure development and road safety. Following its acquisition by Michelin Group in July 2022, RoadBotics aims to leverage its new parent company’s resources to enhance its product offerings. The company plans to expand its services into new geographic regions, specifically targeting markets in Europe and Asia by mid-2024.
Additionally, the recent funding will be utilized to develop new products that enhance road safety and management, building upon its existing technology to provide more comprehensive solutions.
Current Investors
Third Sphere, Ekistic Ventures, Wharton Angel Network
Primary Industry
Software
Sub Industries
Government, Engineering, Analytics & Performance Software
Website
www.roadbotics.com
Verticals
Infrastructure
Company Stage
Acquired
Total Amount Raised
Subscriber access only
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