(MENAFN- Robotics & automation News)
Seegrid closes $50 million funding round as market adoption of its autonomous lift truck 'exceeds expectations'
Seegrid Corporation , a provider of autonomous mobile robots (AMRs) for pallet material handling, has successfully closed its $50 million Series D investment round, funded by its existing lead investors Giant Eagle Incorporated and G2 Venture Partners, as well as smaller investments from other existing shareholders.
Seegrid says the new investment allows the company to accelerate its autonomous lift truck market initiatives, which are“currently generating more growth than expected”.
Joe Pajer, Seegrid's CEO and president, says:“We are thrilled to have secured this additional funding from our investors. It enables us to drive our innovative AMR technology and solutions into the market faster, delivering even more value to our customers sooner.
“In addition, this investment is a testament to the confidence our investors have in our vision, the strength of our leading-edge AMR technology and solutions, and the accelerating market traction we are achieving.
“Seegrid pioneered and remains the leader in the autonomous tow tractor market. We are now revolutionizing the industry again, as we successfully develop, manufacture and deploy innovative new autonomous lift truck solutions.”
Pajer adds:“Unrelenting labor shortages and wage inflation, accompanied by increasing consumer demand, are driving rapid market adoption of autonomous technologies in manufacturing, warehousing and logistics.
“This is particularly true in the area of palletized material flows; areas that are addressed by Seegrid's autonomous tow tractors and lift trucks. This segment of the market is just now 'coming into its own', and Seegrid is a clear leader.
“Seegrid is leading this market in part because of innovative technologies we have introduced in the last six months, including Sliding Scale Autonomy, which provides high levels of both flexibility and predictability in autonomous navigation and manipulation, and Enhanced Pallet and Payload Detection, which enables reliable recognition and manipulation of the broad range of payloads required by world class manufacturers.
“In addition, Seegrid is on track to introduce its second autonomous lift truck later this year. The CR1 will lift even heavier payloads to heights of up to 15 feet.
“When these unique-to-Seegrid technologies are combined with decades of industry-leading deployment experience acquired from our leadership in the autonomous tow tractor market, we are chosen again and again by blue-chip customers who seek autonomous solutions that work in the real world.”
This recent funding marks a significant milestone for Seegrid, which says it“underscores its leadership in the AMR space” and setting the stage for continued success and innovation in the future of material handling automation.
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