Path Robotics announces $300M Series E financing at $2.45B valuation

Physical AI for manufacturing company Path Robotics announced $300 million in Series E financing at a post-money valuation of $2.45 billion, led by AI-focused growth equity firm Georgian.

The company said that its latest funding round includes participation from existing investors Addition, Drive Capital, IronArc Ventures, Tiger Global, Yamaha Motor Ventures and its affiliates, and additional investors D. E. Shaw Ventures and NAVER Ventures.

Additionally, Emily Walsh, partner at Georgian, will join Path Robotics’ board of directors.

Path Robotics sees increased investment and expansion

Path Robotics said that the investment follows a period of rapid commercial expansion, with annual recurring revenue (ARR) growing 17-fold over the past 18 months as the company scales deployments across major industrial customers in North America.

“We started with welding because it is one of the hardest jobs on the factory floor to automate, and we’ve proven that our technology can succeed in real production environments,” said Andy Lonsberry, co-founder and CEO of Path Robotics. “We’re seeing accelerating demand from manufacturers that need to expand production capacity but can’t get there with traditional automation. This capital allows us to scale our welding business alongside our customers while investing further in the data, compute and model development needed to take on every task before and after welding. Our goal isn't to automate one step, but to automate the entire factory.”

The company said that the new capital will accelerate its efforts to deploy its physical AI platform across industries critical to U.S. industrial capacity, support expansion beyond welding into new manufacturing tasks and robotic form factors, along with increased investment in AI model training.

”We believe Path Robotics is well positioned to become one of the defining companies in industrial physical AI,” Walsh said. “Path’s proprietary models and growing base of real-world production data can create a powerful advantage, with every deployment helping improve the intelligence behind its systems. The team has built a strong foundation in welding, and we see enormous potential for Path Robotics to extend that intelligence to new manufacturing applications and industries.”

Scaling physical AI across critical industries

Path Robotics said that it has experienced significant commercial growth as manufacturers across shipbuilding and defense, heavy equipment, and energy infrastructure turn to physical AI to overcome production constraints and expand capacity. The company said that its growing roster of customers includes some of the largest manufacturers in the U.S., like HII, Lockheed Martin, and Saronic, as well as many mid-sized manufacturers that continue to be the backbone of American manufacturing, like EK Machine, Millerbernd Manufacturing Company, TransAmerican Power Products, Inc. and TYCROP.

“As demand for critical defense systems continues to grow, scaling production requires innovative approaches,” said Chris Moran, vice president and general manager, Lockheed Martin Ventures. “Our work with Path Robotics advances manufacturing solutions in ways that can help expand capacity. This investment is an important milestone for Path and the broader industry, accelerating the development of technologies that will help strengthen America’s defense industrial base.”

In August 2026, Path Robotics announced a $600 million performance-based production agreement with HII to accelerate deployment of physical AI across U.S. Navy shipbuilding programs. The company said that it has expanded its workforce by 97% year-over-year, with plans to reach 400 employees by the end of 2026, to support growing customer demand across industries.

“As America’s largest shipbuilder and the world’s number one producer of unmanned undersea systems we are focused on execution and improving throughput to deliver the ships and technologies our nation needs,” said Eric Chewning, executive vice president of maritime systems and corporate strategy at HII. “By partnering with leading physical AI technologies, like Path Robotics, HII will continue to grow the maritime industrial base and advance adaptive automation solutions in the shipbuilding fabrication processes that support increased throughput and acceleration of production.”

Building the intelligence behind autonomous manufacturing

As demand for critical infrastructure and reshored production accelerates amid skilled labor shortages, Path Robotics said that manufacturers are facing mounting pressure to expand production. The company said that traditional industrial robots rely on rigid programming and predetermined paths, limiting their ability to perform complex, variable tasks in real-world manufacturing environments.

Path Robotics said that it has addressed these challenges by developing physical AI models that enable robots to perceive their environment, reason and adapt their actions in real time. The company started with welding, one of manufacturing's most difficult-to-automate processes. Path Robotics said that its physical AI welding model, Obsidian, utilizes real-world welding data, enabling robots to autonomously identify weld joints, plan and execute welds, and adapt to changing conditions.

The company has continued building on that foundation, extending its physical AI capabilities across new robotic form factors and manufacturing tasks, unlocking applications historically beyond the reach of traditional automation.

Path Robotics introduced Rove in May 2026, a mobile robotic welding system that brings Obsidian's capabilities to a quadruped robotic platform, demonstrating how its physical AI models can operate across different robotic form factors.

The company said that the funding will support its continued expansion into new form factors, including increased investment in compute and model training.