Autonomous forklift developer Cyngn has secured US$33 million in funding, to expand its business and proliferate industrial autonomous vehicles.
The funding will support the scaling of the production and deployment of its autonomous tuggers and forklifts.
Lior Tal, Chairman and CEO of Cyngn, said: “This capital infusion strengthens our ability to fund operations, drive commercialisation, and continue investing in groundbreaking autonomous vehicle technologies.
“With increasing demand for automation solutions, especially in the automotive, heavy machinery and logistics industries, this funding allows us to build on recent momentum, including our upcoming autonomous forklift launch and other strategic advancements.”
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