Seegrid Secures $25M in Additional Financing
Funding will support continued rapid growth
PITTSBURGH--(BUSINESS WIRE)--Seegrid, the pioneer and leader in vision-based autonomous industrial vehicles, announced today that the company has raised approximately $12M of equity capital from Giant Eagle, its majority shareholder, and several other existing and new investors, and has a commitment for an additional $13M from Giant Eagle.
"Seegrid is poised to repeat its 100-percent revenue growth from last year," said Jim Rock, Seegrids CEO. "Seegrid continues to expand its customer base, which currently includes leading global companies such as Whirlpool, Daimler, and Jaguar Land Rover. Our customers use Seegrids driverless autonomous vehicle robots to streamline their manufacturing and distribution operations and improve their outstanding safety processes."
"We are excited to be working with some of todays most innovative global companies," continued Rock. "This latest infusion of funding will fuel the companys continued growth, new product development, and customer support resources. We help our customers stay ahead of their competitors by providing flexible vision guided vehicles to support cost-effective driverless autonomous material transport and IoT initiatives. This funding enables us to focus on our cutting-edge robotics innovation to ensure our list of industry-leading customers continues to expand, and it demonstrates the confidence our shareholders have in our technology and company."
About Seegrid
Seegrid, the pioneer and leader in three-dimensional vision navigation, provides unique and revolutionary automation technology for materials handling. Engineered with state-of-the-art Seegrid Vision, industrial trucks are transformed into the next generation of automated guided vehicles (AGVs): vision guided vehicles (VGVs). VGVs navigate without wires, lasers, magnets, or tape and deliver unmatched flexibility. Designed for simplicity and reliability, the Seegrid flexible automation solution is available in a line of pallet trucks and tow tractors.
Experience the maximum benefits of VGVs with the Seegrid Supervisor software application to manage, monitor, and control a fleet of vehicles. Generating economic advantages and operational efficiencies, VGVs optimize workflow processes, increase productivity and throughput, and reduce labor and operating costs, all while improving workplace safety, reducing equipment and product damage, and delivering a rapid return on investment. www.seegrid.com
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