Chevron Backing Lifts KEWAZO's Total Funding to $35M
Robotics firm KEWAZO secured a new funding round on March 19, bringing its total capital raised to $35 million. The investment drew strategic backing from Chevron Technology Ventures and Japan's Asahi Kasei, alongside lead investor Schooner Capital. The new capital is earmarked to accelerate the deployment of its LIFTBOT systems, which are already operational at over 20 industrial sites across North America and Europe, and to expand into additional workflows within customer facilities.
LIFTBOT Taps Industrial Robot Market That Grew 88%
KEWAZO's core product, the LIFTBOT, automates vertical material handling in heavy industries like refineries, petrochemical plants, and power facilities, replacing traditional cranes and manual labor. This move directly addresses a market seeing significant growth, with a 2024 report from the International Federation of Robotics showing that industrial robot installations in U.S. factories increased by 88% from 2013. By improving safety and project schedule predictability, the company provides a clear value proposition to asset owners.
On-Site Data Builds Foundation for 'Physical AI' Strategy
Beyond hardware, KEWAZO's strategy hinges on its access to high-barrier industrial environments. Each LIFTBOT deployment allows the company to collect structured operational data, forming the basis of its "Physical AI" platform. This platform aims to introduce operational transparency today and enable broader automation tomorrow. The approach has attracted investors looking for companies that can lead in specialized, high-stakes applications where generic AI models often fail.
Robotics and automation are transforming industrial operations, mirroring the adoption of AI across the economy.
— Alexandra Manick, Managing Director at Schooner Capital.
Edgen Stock·Mar 19 2026, 16:07
