Insider Brief
- Construction automation startup Xpanner raised $18 million in Series B bridge funding led by Korea Investment Partners and KB Investment as the company expands its robotics and automation platform across the U.S. construction market.
- Xpanner said the funding will support expansion of its Automation-as-a-Service platform, which retrofits existing construction equipment with autonomous systems for tasks such as piling and material handling tied to solar farms, battery storage projects and AI data center construction.
- According to the company, Xpanner has grown revenue tenfold year over year, reached profitability in the first quarter of 2026 and is working with or in discussions with 19 of the top 20 U.S. solar engineering, procurement and construction firms.
Construction automation startup Xpanner has raised $18 million in Series B bridge funding as the company expands its subscription-based robotics and automation platform across the U.S. construction market.
The round was led by existing investors Korea Investment Partners and KB Investment, bringing Xpanner’s total funding to $38 million, according to the company. Xpanner said the funding will be used to expand its U.S. operations and accelerate deployment of its automation systems as demand rises for labor-saving technologies tied to solar farms, battery energy storage projects and AI data center construction.
“We’re thrilled to have KIP’s continued support as we enter our next chapter,” co-founder & CFO and CSO Ryan Park said. “This capital will accelerate our Physical AI solutions tackling labor shortages and jobsite productivity — and fast-track our subscription model expansion. Our focus now is building recurring subscription revenue on top of a proven customer base, driving both growth and profitability.”
Founded in South Korea in 2020 by former executives and engineers from companies including Bobcat, BMW, Boeing, Hexagon and Volvo Construction Equipment, Xpanner focuses on automating construction equipment and jobsite workflows using what it calls Software-Defined Machinery.
Rather than requiring customers to replace existing machinery, Xpanner said it retrofits construction equipment with automation hardware and software designed for tasks such as piling and material handling. The company delivers those capabilities through an Automation-as-a-Service subscription model intended to reduce upfront equipment costs for contractors.
The company entered the U.S. market in 2023 and said more than 90% of its cumulative revenue has come from American customers. According to Xpanner, it has grown revenue tenfold year over year while reaching profitability as of the first quarter of 2026.
Xpanner, which is headquartered in Santa Fe Springs, Calif., and has an office in Seoul, South Korea, said it has either completed projects with or entered active discussions with 19 of the top 20 U.S. solar engineering, procurement and construction firms. Customers and partners include Mortenson, Black & Veatch and QCells.
“Few Physical AI companies in construction, anywhere in the world, reach commercial traction and profitability this quickly,” noted Sangjoon Park, Managing Director at Korea Investment Partners. “Customer conversations on the ground gave us the conviction to return as investors and the shift to subscriptions is what turns a strong product into a truly scalable business.”
Featured image: Xpanner co-founders CTO David Shin, CEO Henri Lee and CFO & CSO Ryan Park (Credit: Xpanner).
