Gecko Robotics, a leading robotics company specializing in critical infrastructure assessment, has raised an additional $100 million in a Series C extension, highlighting its strategic focus on expanding its defense business. This funding round was led by significant investors, including the US Innovative Technology Fund and Founders Fund, both of whom will secure board seats.
The Pittsburgh-based startup, founded in 2013, had previously announced a $73 million Series C in March 2022. The recent round follows Gecko Robotics’ notable contract with the U.S. Navy, where its robots will be deployed to assess damage during submarine construction.
To date, Gecko Robotics has raised $222 million, positioning itself as a key player in the robotics space, especially within the defense sector. The funding surge signifies a growing interest from venture capital firms in defense technology, an area that historically faced challenges in attracting investments due to ethical concerns.
The defense technology sector has experienced a recent upswing in funding, with startups like Ursa Major securing an additional $38 million in Series D and Shield AI raising a substantial $200 million in Series F. Despite the overall dip in defense tech investments compared to the previous year, which saw just under $2.2 billion, the recent trends suggest a potential resurgence in 2024.
As Gecko Robotics continues to strengthen its position in critical infrastructure assessment and defense applications, the additional funding will play a pivotal role in accelerating its growth and innovation within the industry.