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Jones' robotic mower company lands $4.5 million in funding

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Precise Path Robotics Inc., the locally based maker of robotic lawn mowers founded by entrepreneur Scott Jones, announced Tuesday that it has secured $4.5 million in private funding.

The investors include Charlie Staples, a 30-year veteran of the golf course industry. Staples also joined Precise Path’s board of directors.

Over the course of his career, Staples has owned and operated over 80 golf courses, including Florida’s Doral Golf Resort and Spa, host of the PGA Tour for over 45 years and home of the TPC Blue Monster course.

“What Precise Path has developed is more than just another promising technology,” Staples said in a prepared statement. “It’s a commercial-ready system that improves the quality of golf course greens while dramatically reducing the costs to maintain them.”

The round of funding follows on the heels of Precise Path's securing of multi-unit sales orders from two major golf course management companies. Combined, these customers own and/or manage more than 100 U.S. golf courses.

Jones is no rookie when it comes to innovating technology and growing companies. He is credited with the development of one of the first voicemail systems, one of the largest music-data services, and one of the world’s top Internet answer-finding services, ChaCha.com.

Precise Path unveiled its first product in late 2008.
 

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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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