On October 31, 2023, Promise Robotics announced that they closed a $20.8 million Series A financing round led by Horizons Ventures. This round saw participation from Radical Ventures, the Public Sector Pension Investment Board, United Brotherhood of Carpenters, Relay Ventures, and Alate Partners. The company plans on utilizing the funding towards their robotic factory platform.
Promise Robotics is a start-up that utilizes artificial intelligence to analyze building designs, generate machine instructions and communicate the instructions through robots that work to produce components of the building.
Osler, Hoskin & Harcourt LLP advised Promise Robotics with a team consisting of Chad Bayne, Andrew Irwin, Nik Popovski (Emerging and High Growth Companies); Nathaniel Lipkus (Intelligence Property); Melanie Simon (Employment and Labour) and Dov Begun (Tax).