Clearpath Robotics is out to change the world, one unmanned vehicle at a time. The Kitchener, Ont.-based company specializes in the design and manufacture of reliable unmanned vehicles for industrial, academic, and military research and development. From the Kingfisher, an autonomous marine research vessel, to the Turtlebot personal robot and the Husky, an unmanned ground vehicle, Clearpath Robotics has earned an international reputation for its high standards, providing each of its customers—from small local businesses to some of the best-known technical institutions in the world—with products that are second to none.
Clearpath Robotics has grown by over 200% yearly since it was founded in 2009. The company’s management team and board of directors decided an injection of funds was warranted so that they could continue with their growth strategy.
The Business Development Bank of Canada (BDC) provided Clearpath Robotics with working capital financing amortized over four years and assisted in negotiations to secure a much-needed line of credit.
With BDC’s help, Clearpath Robotics has been able to comfortably take on new projects and hire the necessary key staff for growth.
Says Clearpath Robotics CEO Matt Rendall, “We are thrilled to be working with BDC. The working capital they have provided will play a pivotal role in our aggressive growth strategy.”