The Scoop
Gecko Robotics — which develops devices and software to inspect and maintain critical infrastructure — plans to double its workforce and the number of robots deployed in the UAE to between 40 and 50 each, its CEO told Semafor. The Pittsburgh-based company, last valued at more than $600 million, is also preparing for a major funding round this year and exploring acquisitions as the robotics sector consolidates.
The company partnered in April with UAE oil and gas contractor Al Masaood Energy on a $30 million, multiyear contract to inspect and map ADNOC Gas facilities. Gecko’s wall-climbing robots are currently inspecting tanks and other assets, demonstrating greater efficiency and safety compared to the manual process, which requires extensive downtime and scaffolding installation, said the company’s co-founder and chief executive Jake Loosararian. Gecko’s technology is designed to optimize infrastructure operations by predicting maintenance needs and preventing failures, using robots and sensors to collect data that is then processed through the company’s software platform.
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Gecko expanded to the UAE after meeting ADNOC officials at Davos and taking an exploratory trip with Founders Fund, the venture firm backed by Peter Thiel. The company has raised more than $220 million, according to Bloomberg, with investors including Mark Cuban, Y Combinator, the US Innovative Technology Fund, and Founders Fund.
Its work at ADNOC Gas focuses on modernizing asset maintenance, reducing costly shutdowns, and improving operational efficiency. Loosararian said minimizing downtime is crucial for energy firms because a month of lost production, for example, can cost “$30 to $40 million per day.”
Developing robots and software is capital-intensive — which is driving consolidation in the sector, he said. This is why the company plans to raise another round of funding and aims to acquire companies to expand its offerings.
Gecko is betting that combining robotics with proprietary data-gathering sensors and AI-driven analytics gives it an edge. “Most of our IP is in gathering the data,” Loosararian said. “Standalone software companies will begin to die out as a model that’s worked in the past,” and surviving technology firms will have to meld robotics, software, and analytics to thrive, he said.