Diamond Age Raises $50 Million to Grow Its Robotics Home Construction System

Engineer checking robotic arms.

Diamond Age is a robotics and tech startup that focuses on integrating robotics and smart technology into the construction industry. The company recently announced the close of its Series A funding round followed by the success of the technology’s application in the business world.

What Diamond Age Provides and Early Signs of Business growth

Diamond Age focuses on improving the quality and efficiency of the construction industry by building end-of-arm robotics tools meant to enhance the skills of human construction workers and reduce a project’s completion time. The company currently sells 26 different end-of-arm tools, each serving a unique purpose within the construction industry.

In addition to robotic tools, Diamond Age has begun integrating 3D printing style robots that can lay down concrete into molds or along designated paths.

Despite being a relatively young company, Diamond Age claims that its products provide several major benefits when compared to more traditional construction work. The startup reports a 55% reduction in manual labor that would otherwise be required to complete a task.

Furthermore, Diamond Age also claims it drastically expedites construction projects. For example, if a construction cycle is estimated to take nine months to complete, the robotics technology can reduce the total time to just 30 days.

The company recently completed its first-ever scaled construction system, which integrates all portions of its robotics technology. Over the course of 11 months, the robotics startup delivered a 2,000 square foot home with three bedrooms and two bathrooms. This project led quickly to a business partnership with a national home-buying company. Diamond Age plans to announce the name of its new partner within the coming weeks.

Diamond Age is a unique part of the global construction equipment market estimated to be worth over $208 billion in 2021. The market is projected to reach a total value of over $250 billion by 2026. This is set to be achieved at a compound annual growth rate (CAGR) of 3.8%.

Diamond Age Funding Round and Plans for Business Expansion

In its Series A funding round, Diamond Age raised $50 million in capital. The funding round was led by Prime Movers Lab with participation from Alpaca VC, Dolby Family Ventures, Timber Grove Ventures, Signia Venture Partners, and Gaingels. 20% of the funding round was supported by production home builders and developers.

Diamond Age plans to use the newly raised capital to scale up business operations by investing in its current robotics construction technology. The startup also plans to hire a number of new employees in its engineering and fabrication departments.

The robotics company expects to build its revenue by generating business partnerships with more home builders and developers who want to save time and money on new construction projects.

When commenting on the value of robotic tools and the latest funding round for the startup company, co-founder and CEO of Diamond Age Jack Oslan said, “Affordable housing is impacting people on a global scale. As the average age for first time homebuyers has moved from mid-twenties to mid-thirties, there’s an increased demand for more rental property – forcing the entire hierarchy of renters into a more competitive market for “quality” housing. Helping the next generation of homebuyers get into their first house faster helps the entire ecosystem of housing.”

Thomas Price

Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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