"We're thrilled to have KIP's continued support as we enter our next chapter," said Ryan Park, co-founder & CFO and CSO of Xpanner. "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."
"Few Physical AI companies in construction, anywhere in the world, reach commercial traction and profitability this quickly," said 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."
Since its founding in South Korea in 2020 by industry veterans from Bobcat, BMW, Boeing, Hexagon, and Volvo Construction Equipment, Xpanner has grown into the only company in construction Physical AI with both meaningful revenue and proven profitability. The company expanded to the U.S. in 2023 with a mission to convert cutting-edge autonomous technology into tangible productivity gains for operators on active job sites. Today, Xpanner partners with industry leaders including Mortenson, Black & Veatch, ...
