Path Robotics Announces $300 Million Series E Financing at $2.45 Billion Valuation to Scale Physical AI for Manufacturing

COLUMBUS, Ohio--(BUSINESS WIRE)--Nov 10, 2026--

Path Robotics, the global leader in physical AI for manufacturing, today announced $300 million in Series E financing at a post-money valuation of $2.45 billion, led by Georgian, an AI-focused growth equity firm. The 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. Emily Walsh, partner at Georgian, will join Path Robotics’ board of directors.

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The investment follows a period of rapid commercial expansion for Path Robotics, 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. The new capital will accelerate the company’s 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 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, CEO and co-founder, 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.”

“We believe Path Robotics is well positioned to become one of the defining companies in industrial physical AI,” said Walsh. “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 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’s 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.”

Earlier this year, Path Robotics announced a $600 million performance-based production agreement with HII to accelerate deployment of physical AI across U.S. Navy shipbuilding programs. To support growing customer demand across industries, Path Robotics has expanded its workforce by 97% year-over-year, with plans to reach 400 employees by year-end.

“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, manufacturers face mounting pressure to expand production. 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 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. Its physical AI welding model, Obsidian™, leverages real-world welding data, enabling robots to autonomously identify weld joints, plan and execute welds, and adapt to changing conditions.

Building on that foundation, Path Robotics is extending its physical AI capabilities across new robotic form factors and manufacturing tasks, unlocking applications historically beyond the reach of traditional automation. The company recently introduced Rove™, 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 funding will support Path Robotics’ continued expansion into new form factors, including increased investment in compute and model training.

For more information about Path Robotics, please visit www.path-robotics.com.

About Path Robotics
Path Robotics builds physical AI for manufacturing, starting with its welding model, Obsidian™. Path Robotics’ intelligent welding cells perform the complex, variable welds that traditional automation cannot, enabling manufacturers to overcome chronic labor shortages while increasing production capacity, and improving quality. With the launch of Rove™, a mobile robotic welding system that pairs Obsidian with a quadruped robot, Path Robotics brings that same intelligent, adaptive welding capability into the field directly to the part, wherever it is. Since its founding in 2018, the company has raised more than $610 million to incorporate intelligence through physical AI into legacy manufacturing processes, turning traditionally impossible-to-automate work into reliable, high-throughput, and high-quality production. By combining artificial intelligence, machine learning and computer vision, Path Robotics’ physical AI enables legacy manufacturing processes to see, think, and adapt, in real time, turning the complexity that made automating these traditional processes impossible into a reality.

With this capital, Path Robotics will expand its physical AI capabilities across new robotic form factors and manufacturing tasks. The company recently introduced Rove™, a mobile robotic welding system, demonstrating how its physical AI models can operate across different form factors.

Path Robotics announced $300 million in Series E financing following a period of rapid commercial expansion, with ARR growing 17-fold over the past 18 months as the company scales deployments across major industrial customers in North America.

PHILADELPHIA (AP) — Bob Boone, the catcher on the Philadelphia Phillies' first World Series championship team in 1980 who won seven Gold Gloves and was part of baseball's first three-generation family, has died. He was 78.

Boone's son, Bret, announced his father's death Tuesday on social media. The Phillies said in a statement Boone died Monday. No cause of death was announced.

“He was a man of great integrity. He was a great dad, husband, and patriarch. It was a privilege to call him my father. Baseball lost a great one today,” Bret Boone wrote.

Boone spent his first 10 seasons with the Phillies, played seven with the California Angels and two with the Kansas City Royals. He also managed the Royals and Cincinnati Reds.

“Bob was an incredible player, teammate and family man. He embodied everything we believe exemplary athletes should represent, both on and off the field,” the Phillies said in a statement. “We were proud to have him as part of the Phillies family during one of the most historic runs in team history. His impact on our organization, his teammates, and everyone who had the privilege of knowing him will never be forgotten.”

Boone's father, Ray, played 13 seasons in the majors and was a two-time All-Star with the Detroit Tigers. Bob Boone's two sons both enjoyed long baseball careers. Aaron Boone played 13 seasons in the majors and played for the Reds when Bob managed the team. Aaron now manages the New York Yankees. Bret Boone was a three-time All-Star over a 14-year career spent largely with the Seattle Mariners. A third son played in the minor leagues. Bret's son, Jake Boone, works in the New York Mets' front office after playing at Princeton and briefly in the minors.

“His legacy is profound, and we can see the values he embodied carried forward by his son, Aaron, in his leadership of the Yankees,” the Yankees wrote in a statement.

Bob Boone was a sixth-round draft pick as a third baseman out of Stanford in 1969. He was converted to catcher in the minor leagues and caught 1,095 games with Philadelphia, second on the Phillies’ all-time list to Red Dooin (1,124). Boone caught 2,225 games overall in 19 big league seasons.

“We played in the minors together where he gave up third base so I could play it, only to become one of the best catchers in baseball history,” Phillies Hall of Famer Mike Schmidt said. “Bob was a great father and husband. Our lives and careers were intertwined, we pursued our Christian faith together, worked out together, and became world champions together.”

He was the first Phillies catcher to win a Gold Glove (1978, 1979) and led the Phillies with a .412 batting average in their 1980 World Series win over the Kansas City Royals.

“Bob Boone was a quiet leader, both on and off the field,” said Larry Bowa, the shortstop on the 1980 team. “I had the privilege of playing alongside him for nearly my entire career, and without question, he was the backbone of our team.”

A native of San Diego, Boone made NL All-Star teams in 1976, 1978 and 1979. He set the record for career games caught by a catcher with 1,919 in Kansas City. He was 41 years old when he won his final Gold Glove with the Royals in 1989.

Ivan Rodriguez (2,427) and Carlton Fisk (2,226) have since passed Boone on the career games caught list.

“I grew up watching Bob with the great Phillies teams of the 70’s. His play and mastery of catching inspired me to want to play the position,” Hall of Fame catcher Mike Piazza posted on social media.

Boone caught the final out of the 1980 Game 6 clincher when Tug McGraw struck out Willie Wilson to win the World Series. Boone was involved in a more famous play earlier in that inning when he ran after Frank White's foul pop near the home dugout in Veterans Stadium. The ball bounced off Boone's mitt and straight into Pete Rose's glove for an out — a catch played on countless highlight reels through the decades in Philadelphia.

Boone was added to the Phillies' Wall of Fame in 2005.

Boone won four more Gold Gloves, made another All-Star team and twice led the Angels to the playoffs. He went 10 for 22 (.455) with a homer and two RBIs against Boston in the 1986 American League Championship Series.

“Our franchise leader in games caught, Boone’s leadership, exceptional defense and knowledge of the game made him an invaluable presence behind the plate and helped the Angels win two division titles,” the Angels said in a statement.

Boone went 371-444 overall as a manager, spending three seasons with the Royals and three with the Reds. He joined the Washington Nationals' front office in 2005.

Washington won the World Series in 2019, the first championship in franchise history. Boone resigned in 2021 rather than comply with the organization’s COVID-19 vaccine mandate.

See AP’s full MLB coverage here

FILE - Former Philadelphia Phillies' Bob Boone waves to the crowd before a baseball game against the New York Mets, Saturday, Aug. 12, 2017, in Philadelphia. (AP Photo/Matt Slocum, File)

FILE - Los Angeles Dodgers Steve Garvey, right, crashes into Philadelphia Phillies catcher Bob Boone as he touches home plate during the an NL playoff baseball game, Friday, Oct. 7, 1977, Philadelphia, Pa. (AP Photo/File)

FILE - Cincinnati Reds' Aaron Boone, left, and his brother, Bret, second from right, pose with their grandfather, Ray, second from left, and father, Bob, right, before the 74th Major League Baseball All-Star Game in Chicago, July 15, 2003. (AP Photo/Mark Duncan, File)

FILE - Former Philadelphia Phillies' Bob Boone watches during a Major League Baseball news conference on Independence Mall in Philadelphia, April 16, 2019. (AP Photo/Matt Rourke, File)