{"id":132076,"date":"2021-12-09T21:22:20","date_gmt":"2021-12-10T05:22:20","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2021\/12\/petra-emerges-from-stealth-with-30m-raised-for-tunnel-boring-robot-swifty"},"modified":"2021-12-09T21:22:20","modified_gmt":"2021-12-10T05:22:20","slug":"petra-emerges-from-stealth-with-30m-raised-for-tunnel-boring-robot-swifty","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2021\/12\/petra-emerges-from-stealth-with-30m-raised-for-tunnel-boring-robot-swifty","title":{"rendered":"Petra emerges from stealth with $30M raised for tunnel-boring robot, Swifty"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/petra-emerges-from-stealth-with-30m-raised-for-tunnel-boring-robot-swifty.jpg\"><\/a><\/p>\n<p>Petra emerged from stealth this week, announcing a $30 million Series A. The round, led by DCVC, brings the robotics company\u2019s funding up to $33 million, with additional participation from ACME Capital Congruent Ventures, 8VC, Real Ventures, Elementum Ventures and Mac Venture Capital.<\/p>\n<p>\u201cWe\u2019ve invented a completely new way to excavate rock and this will have profound implications on the future of tunneling,\u201d co-founder and CEO Kim Abrams said in release tied to the news. \u201cBy delivering a boring solution that affordably undergrounds utilities through high-grade rock, we can finally protect communities from exposure to wildfires and ensure the safety of critical infrastructure in disaster-prone areas, especially in places like the Sierra Nevada mountains, Rocky Mountains, and coastal regions.\u201d<\/p>\n<p>The news arrives as the company is announcing a successful pilot of its robot, Swifty. According to the firm, the robot successfully bored a 20-foot tunnel through Sioux Quartzite at a rate of one inch-per-minute. The metamorphic rock is notoriously hard, making it a popular choice for buildings in the upper Midwest region in which it is found. That strength, however, also makes it a formidable challenge from infrastructure and other projects that require tunneling.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Petra emerged from stealth this week, announcing a $30 million Series A. The round, led by DCVC, brings the robotics company\u2019s funding up to $33 million, with additional participation from ACME Capital Congruent Ventures, 8VC, Real Ventures, Elementum Ventures and Mac Venture Capital. \u201cWe\u2019ve invented a completely new way to excavate rock and this will [\u2026]<\/p>\n","protected":false},"author":359,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45,6],"tags":[],"class_list":["post-132076","post","type-post","status-publish","format-standard","hentry","category-finance","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/132076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/359"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=132076"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/132076\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=132076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=132076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=132076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}