Vince Molinari welcomes Srinivas Pai, the Co-Founder and CEO of PaceRobotics, a pioneering construction robotics startup based in Bangalore, India. The conversation centers around the innovative solutions that Pace Robotics is introducing to the construction industry, particularly during the building finishes phase, which includes tasks such as wall, floor, and ceiling finishing.
Srinivas provides an overview of how PaceRobotics designs, develops, and manufactures robots that can perform these finishing tasks at a remarkable speed—up to ten times faster than human workers. He explains that this efficiency leads to an 80% reduction in labor requirements. For instance, where 12 workers were previously needed to complete 50,000 square feet of work in a month, only two workers are now necessary. This shift results in a threefold decrease in costs in India and has the potential to reduce costs by up to five times in regions with higher labor costs, such as Saudi Arabia.
Vince and Srinivas discuss the critical need for robotics in construction, emphasizing that cost savings are just one aspect of the equation. Srinivas highlights the current labor shortage in the industry and the challenge of attracting younger generations to physically demanding jobs. He articulates a vision for making construction a safer and more appealing work environment while also enhancing predictability in project timelines and costs.
The discussion delves into the efficiency gains brought by robotics, with Srinivas noting that their robots can complete approximately 2,000 square feet of work in a day, compared to the 200 square feet that a traditional team can manage. He addresses the scalability of their technology, indicating that the Indian and Middle Eastern markets present significant opportunities, with an estimated need for 20,000 robots in these regions, a number that could double in the coming years.
Srinivas also shares how PaceRobotics has validated its business model through extensive trials and partnerships with seven of the largest real estate companies in India. With over 100,000 square feet of internal trials and 30,000 square feet of pilot projects completed, the feedback has been overwhelmingly positive, confirming that their robots are five to seven times faster than manual labor and meet high-quality standards.
As the segment concludes, Srinivas offers his insights on the Saudi and broader Middle Eastern markets, highlighting the rapid growth and development in the region. He points out that labor costs in these markets are significantly higher than in India, which enhances the value proposition of their robotic solutions. Srinivas expresses confidence that achieving the ambitious construction goals in Saudi Arabia will be challenging without the integration of robotics.