A robotics company targeting the future of self-driving industrial vehicles has formed a new partnership to push its operations forward.
Autonomous Solutions Inc. is forming a new joint venture with Tokyo-headquartered SoftBank Group Corp. to help the company develop and commercialize autonomous construction equipment for large infrastructure projects, according to a release.
SoftBank is also investing $225M in Utah-based ASI, whose products allow construction firms to deploy autonomous vehicles for tasks like on-site excavation and haulage.
The firm is the latest in a string of construction tech companies to receive financial backing in recent years, with billions of dollars going into construction robotics and AI-powered tech each year, Construction Dive reported.
ASI isn’t the first construction tech company that SoftBank has thrown its weight behind.