Precise Path Robotics Raises $4.5 Million

Precise Path Robotics, an Indianapolis-based maker of mobile robotic outdoor equipment, has raised $4.5 million in new VC funding. Backers include golf industry exec Charlie Staples.

PRESS RELEASE

Precise Path Robotics, a leader in mobile robotic outdoor equipment, has closed a $4.5 million round of funding. Precise Path was co-founded by entrepreneur Scott A. Jones, whose achievements include the development of voicemail systems, the largest music data service, and the #1 mobile “answers” service. Precise Path’s first product—the RG3 robotic greens mower—is creating buzz in the golf course industry because of its ability to save the world’s 32,000 golf courses significant annual maintenance costs.

Participating in the round and joining Precise Path’s board of directors is Charlie Staples, a 30-year veteran of the golf course industry. Over the course of his career, Mr. Staples has owned and operated over 80 golf courses, including the prestigious Doral Golf Resort and Spa, host of the PGA Tour for over 45 years and home of the TPC Blue Monster course. “What Precise Path has developed is more than just another promising technology. It’s a commercial-ready system that improves the quality of golf course greens while dramatically reducing the costs to maintain them,” says Staples.

The round follows on the heels of Precise Path securing multi-unit sales orders from two leading golf course management companies. Combined, these customers own and/or manage over 100 golf courses in the United States. “The savings made possible by the RG3 are significant, especially for management companies whose business is leveraging the operation of multiple golf courses,” says Brian Wheat, VP Sales and Marketing for Precise Path.

The RG3 is different from residential-oriented robotic mowers on the market today, which travel in semi-random patterns, much like iRobot’s “Roomba” robotic vacuum cleaner, and can take hours to cut small areas of grass. In contrast, the RG3 travels in straight lines and with minimal overlap for fast and efficient mowing times and pleasing aesthetic results, including the visible striping that is the hallmark of carefully manicured greens.

At the heart of the RG3 is Precise Path’s patent-pending mobile robotics technology, engineered specifically to overcome the challenges of navigating unstructured outdoor spaces. “The commercial applications of our mobile robotics technology are far-reaching,” says Jason Zielke, Precise Path’s President and COO. “Mowing is the first in a long list of applications we have envisioned — from spraying to snow removal to carving advertising logos in lawns.”

About Precise Path Robotics:

Precise Path Robotics is a leader in mobile robotic outdoor equipment. The Company’s premier product—the RG3 robotic greens mower—is on track to save the golf course industry significant annual maintenance costs. For more information on Precise Path Robotics, visit www.precisepath.com or contact Brian Wheat at 317-432-4306 or brian.wheat@precisepath.com.

About Scott A. Jones:

Scott is a proven leader in building high-performance teams, pioneering strategies that capture leading market share, developing leading-edge technology, and leveraging intellectual property to find a path to success in emerging markets. Scott’s successes include the world’s #1 voice-mail technology in use by more than a billion people worldwide, Gracenote, the undisputed leader in global digital entertainment technology, and ChaCha, the leading mobile answers service. For more information on Scott, please visit www.chacha.com or www.scottajones.com.