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  • Swap’s Robotic Mowers Score $7 Million in Seed Capital • australiabusinessblog.com

Swap’s Robotic Mowers Score $7 Million in Seed Capital • australiabusinessblog.com

Swap Robotics entered our orbit last year, when the company was a finalist for our Battlefield competition at Disrupt 2022. In a world full of robotic lawnmowers, the startup caught the judges’ attention with a modular design that enables the titular quick battery swap . and functionality with attachments for things like snow removal.

The company also made waves with a much more specialized focus than most. Rather than go after every commercial lawn or lawn, Swap has focused its efforts solely on solar farms — a growing market, that’s for sure.

“The solar energy market is a bridgehead market for us,” founder and CEO Tim Lichti tells australiabusinessblog.com. “Starting to mow solar vegetation solves a huge problem for customers as mowing the grass and vegetation is the largest ongoing cost once utility-scale solar plants are built. Large solar areas are shielded from the public, allowing our 100% electric robots to run safely 24/7 and maximize acreage per month. The global solar interrupt market is expected to reach tens of billions of dollars annually by 2030.”

While the company failed to walk away with the top prize, it has grabbed the interest of bankable investors. Today it announced a $7 million seed round led by SOLV Energy, a California-based solar energy provider. The round is also supported by SOSV’s HAX division.

It’s certainly a tough environment to raise money, but Lichti says the current excitement around sustainability efforts was enough to counter that headwind when it came to growing the company’s seed.

Image Credits: Swap robotics

“Growing up in the current economic climate has been quite easy for us as a climate technology focused company,” he adds. “We have the tailwind of the IRA, a leading product and an experienced team of 40 people. We are currently in talks with some of the top 50 solar asset owners for additional investment.”

The company has already started deploying its systems to select farms in the southern US, with plans to expand to other parts of the country in 2023. An international expansion is expected to begin next year. For now, only the solar energy market is a major focus for the company’s growth, especially in the wake of an ongoing labor shortage.

Exchange costs through a subscription-based robot-as-a-service (RaaS) model, based on several factors, including frequency and terrain. Lichti says the company has already lined up $9 million in contracts for the next three years.

Shreya has been with australiabusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider australiabusinessblog.com, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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