Who is Rugged Robotics?
Rugged Robotics is a Houston-based construction technology startup. Their first product tackles the challenge of field layout, and replaces slow, error-prone, manual layout with an autonomous robot that marks fully-coordinated A/E designs directly onto unfinished floors.
Rugged Robotics, the construction tech startup founded by Derrick Morse and Logan Farrell, was growing rapidly. After incorporating in 2018, the company raised a seed round in late 2019. By 2021 they were preparing for more investment – in the form of a multi-million Series A that would cement Rugged’s growing foothold in the commercial construction industry.
The Series A was a more involved experience than the Seed. The deal included hundreds of pages of legal documents that needed to be reviewed and negotiated by Rugged’s attorneys — followed by review and execution by all investors and board members.
“When we started Rugged Robotics, I knew a few founders, but had zero startup experience,” Morse said. “My days in strategy and management consulting taught me about business models, financial projections, and market sizing. But I had very limited experience when it comes to raising money, working with investors, and managing a cap table.”
Morse and the Rugged team had already chosen Shoobx as their preferred platform to incorporate and raise their seed capital. From the start, Rugged wanted a solution that scaled with them and automated document execution and cap table management. Morse knew that with the right solution, Rugged could build strong relationships with their legal team and investors. Best of all, such a solution could free up Rugged’s team to focus on the most important thing: the terms of the deal.