TerraFirma raises $115M to build robotic infrastructure for construction

A construction robotics company raised $115 million in Series A funding to develop semi-autonomous heavy equipment and the software systems to operate them. Construction productivity in the United States has declined at an average rate of 0.6% per year since 1965, while the broader economy has grown at roughly 1.6% annually, creating what the company describes as a critical problem in infrastructure development. The company's approach uses retrofitted machinery that operators control remotely from command centers rather than sitting in equipment cabs, which the company says can make each operator up to 300% more effective. The funding will support expansion of the company's engineering, manufacturing, operations, and construction teams as they work on projects in housing, energy, transportation, manufacturing, and education sectors.