Gecko Robotics reaches unicorn status after $125M raise

Gecko Robotics just reached unicorn status. 

The Pittsburgh-based startup announced a $125 million Series D today, boosting its valuation to $1.25 billion. Founded 12 years ago, the company has now raised a total of $347.43 million, according to PitchBook.

The latest round was led by new investor Cox Enterprises, with continuing investors USIT, XN, Founders Fund and Y Combinator, according to the startup. 

“Gecko was built out of my college dorm room, to what it is today,” Jake Loosararian, cofounder and CEO of Gecko Robotics, said in a press release, “the company ensuring the safety of public infrastructure, the optimization of energy and manufacturing facilities, and the modernization of allied militaries to deter global conflict.”

With a headquarters on the North Side, Gecko designs robots that “climb, crawl, swim, and fly” to gather and analyze data on critical infrastructure. 

Gecko announced a $73 million Series C in 2022 and later added an additional $100 million to it the next year. The company’s rise to success can be partially attributed to landing major military wins, like a $1.5 million contract from the US Air Force Nuclear Weapons Center in 2022 and a US Navy partnership.

Private sector partnerships helped, too. Just earlier this year, for example, Gecko entered a $100 million contract with NAES, America’s largest independent power operator.

Today’s news makes Gecko the eighth unicorn built in Pittsburgh over the last eight years. Half of them have popped up since 2023 alone, according to InnovatePGH executive director Sean Luther.

“Gecko Robotics’ latest raise is more than a win for Pittsburgh,” Luther said. “It’s a sign that the region’s innovation flywheel is beginning to spin faster.”

Gecko Robotics did not immediately respond to Technical.ly’s request for additional comment.