BOSTON - [Date] - Square Robot Inc., a leader in robotic tank inspection services, proudly announces a $5 million growth investment from Crosstown Capital LP. In addition to the funding commitment, Crosstown Capital will also join Square Robot's Board of Directors.
The investment will accelerate Square Robot's expansion of its tank inspection robot fleet, particularly the new generation SR-3 Robots, which has already completed their first successful operations and attracted great market interest. While Square Robot continues its advancements in robotic development, the company will also dedicate resources to enhancing their focus on training and developing specialized field crews to meet the rising global demand for Robotic Tank Inspection services.
Square Robot's uniqueness and market leadership have seen a surge in demand, expanding operations across four continents in recent months. The request for robotic tank inspections this year alone has already surpassed last year's figures by over sevenfold.
"We are thrilled to welcome Crosstown Capital to our investment group," said David Lamont, CEO & President of Square Robot. "I also want to welcome Milton Lovell, Crosstown Capital Managing Partner, to our Board; his knowledge and expertise will play a pivotal role during this exciting time for the company."
"With roots in industrial businesses in the United States, we are pleased to make a significant investment at an exciting time for Square Robot," said Milton Lovell. "We feel as if the company is poised to capitalize on opportunities and to achieve significant growth in the coming years. I am personally excited to join the Board and hopeful to contribute to its already strong directorial and leadership team."
About Square Robot
Square Robot Inc. specializes in robotic tank inspection services, offering cutting-edge technology solutions to industries worldwide. The company is dedicated to enhancing the safety, efficiency, and sustainability of tank inspections by eliminating the need for human entry into hazardous environments. By consistently pushing the boundaries of technology and innovation, Square Robot is setting new standards in robotic inspections, ensuring accuracy, and providing comprehensive data-driven insights for its global clientele.