Seegrid Secures $25M in Additional Financing

PITTSBURGH, PA–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, Seegrid’s 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 Seegrid’s 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 today’s most innovative global companies,” continued Rock. “This latest infusion of funding will fuel the company’s 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.”

Media Contact
Robert Collins for Seegrid
rcollins@racepointglobal.com
617-624-3225

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 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 offered in a line of pallet trucks and tow tractors.

Experience the maximum benefits of VGVs with Seegrid Supervisor to manage, monitor, and control a fleet of vehicles in context of your operation. Generating economic advantages and operational efficiencies, VGVs optimize workflow processes, increase productivity and throughput, labor optimization and operating costs. An award-winning organization, Seegrid is experiencing significant growth both in employees and clients. Multi-billion dollar organizations focused on lean manufacturing best-practices are turning to the Pittsburgh-based robotics leader. From large automotive operations to retail distribution centers, Seegrid VGVs are advancing the reality of a Fork Truck Free approach. VGVs improve workplace safety, reduce equipment and product damage, and deliver a rapid return on investment. Seegrid customers include: Whirlpool, Kohler, Walgreens, Volvo, and 3M.