Bethlehem Startup Among ‘Most Fundable Companies’ List
By Colin McEvoy on December 14, 2021
FLX Solutions, a Bethlehem-based startup that creates modular snake robots, has received national recognition on the Pepperdine Graziadio Business School’s fourth annual Most Fundable Companies List.
The company was one of 16 early-stage U.S. companies to receive the prestigious designation, and one of only three to receive a Platinum registration. FLX Solutions competed against over 3,300 other companies under consideration for the list.
“It is a great honor to be named as one of the 3 Platinum level Most Fundable Companies of 2021,” said Matt Bilsky, CEO & Founder of FLX Solutions.
“The entire FLX Team had worked tirelessly to make the FLX BOT and company a success and this is a great celebration of our hard work,” Bilsky said. “Congratulations to the rest of the finalists and semi-finalists as well.”
The Most Fundable Companies initiative seeks to educate founders on the investor diligence process and recognize exceptional entrepreneurs who are solving today’s problems with inventive solutions and are also seeking investment capital to fuel their company’s growth.
As a winner on the Most Fundable Companies List, FLX Solutions was profiled on Entrepreneur.com and featured in the December print issue of the magazine. Visit here for a complete list of the winners.
FLX Solutions is pioneering new inspection and maintenance applications for building construction, utilities, and telecom with a highly intelligent robotic arm that has autonomous, snake-like locomotion.
The FLX BOT is the company’s patented, 1″-diameter snake-like robot, which has been miniaturized to operate in spaces that humans and traditional tools cannot easily access. The FLX BOT is able to enter these spaces to inspect, map, and then autonomously perform any required maintenance.
FLX Solutions has benefitted from the entrepreneurial ecosystem in the Lehigh Valley. The company is based at the Ben Franklin TechVentures incubator located on Lehigh University’s Mountaintop Campus in Bethlehem.
TechVentures is operated by Ben Franklin Technology Partners of Northeastern Pennsylvania, which creates and retains highly-paid, sustainable jobs by investing in and linking companies with experts, universities, follow-on funding, and other resources to help them prosper through innovation.
Impossible Incorporated, Bilsky’s original company that led to the establishment of FLX Solutions, also previously received funding and support through the Southside Bethlehem Keystone Innovation Zone (KIZ), an area within the city that allows qualified startup companies to qualify for financial and advisory support benefits.
The company previously received technology transfer grants, student internship grants, and KIZ tax credits, according to Asher Schiavone, the city’s Economic Development Coordinator.
Additionally, FLX Solutions also won the Startup Lehigh Valley pitch competition held at the Factory LLC in Bethlehem in 2019.
FLX Solutions’ first product, FLX BOT, is a patented, snake-like robot that is one inch in diameter and expands, braces, and climbs to perform many customizable actions.
Its modular robot is made up of identical, interchangeable links that each have a camera and sensor to enable 3-D mapping and autonomous navigation. Each robot has interchangeable end effectors including drills, grippers, vacuums, or sprayers.
FLX Solutions, in partnership with Gensler and Skyline Capital Builders was also recently named a Phase 1 winner in the Department of Energy’s $200,000 E-ROBOT Prize for minimally invasive building envelope retrofit technologies.
The award recognizes the company’s improved modeling and planning software coupled with an innovative robotic platform allowing for minimally invasive and cost effective retrofits across all types of existing buildings.
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