Square Robot, a Westborough-based company which builds robots used to safely inspect storage tanks used in a variety of industries, raised $7.5 million in a Series B funding extension closed in December.
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Square Robot, a Westborough-based company which builds robots used to safely inspect storage tanks used in a variety of industries, raised $7.5 million in a Series B funding extension closed in December.
The latest round of funding was part of a larger Series B round where the company raised a total of $13.5 million, according to Crunchbase.
The recent $7.5-million raise came as Square Robot partnered with Ohio-based Marathon Petroleum Corp., which joined other investors in contributing to the Series B round, according to a Dec. 15 press release from Square Robot.
Founded in 2016, Square Robot produces robotic devices used to inspect above-ground storage tanks used by petroleum firms and other industries, minimizing downtime and the need for risky human inspections in toxic or otherwise dangerous environments.
The collaboration between Square Robot and Marathon involves the two firms working together to design its next-generation robotic platform, according to the press release.
“Marathon’s partnership marks a major milestone in our mission to transform industrial tank inspection,” David Lamont, CEO of Square Robot, said in the press release. “They recognize the proven value of our robotic inspections, eliminating confined space entry, reducing the environmental impact, and delivering major cost efficiencies all while keeping tanks on-line and working. We’re excited to work together with such a great company to expand inspection capabilities and accelerate innovation across the industry.”
Foley & Lardner, a law firm based in Boston, served as a legal advisor to Square Robot during the fundraising round and collaboration with Marathon, according to a Dec. 23 press release from that firm.
The successful raise ended a year where Square Robot grew its global presence, including in Asia and Brazil, via partnerships with local firms in those markets. The firm expanded into the commercial aviation market by conducting its first inspection of an aviation fuel tank at Harry Reid International Airport in Las Vegas, according to the company’s end-of-the-year report.
The company inspected over 350 tanks for 90 clients across 16 countries in 2025.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
