Autonomous mobile robot (AMR) manufacturer Seegrid has closed a US$50m series D investment round.
The round was funded by existing investors Giant Eagle and G2 Venture Partners, alongside smaller investments from other existing shareholders.
The investment will enable Seegrid to accelerate its autonomous lift truck market initiatives, which are currently generating more growth than expected, in a market projected to reach nearly US$3.5bn by 2027, according to Interact Analysis, Mobile Robots in 2023.
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According to Joe Pajer, CEO and president of Seegrid, labour shortages and wage inflation, accompanied by increasing consumer demand, are driving rapid market adoption of autonomous technologies in manufacturing, warehousing and logistics.
He said: “[The funding] 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 revolutionising the industry again, as we successfully develop, manufacture and deploy innovative new autonomous lift truck solutions.”
Innovations and achievements in AMR technology will be highlighted and celebrated at the second annual Robotics & Automation Awards on 06 November 2024 at De Vere Grand Connaught Rooms in London. Visit www.roboticsandautomationawards.co.uk to learn more about this unmissable industry event – and to book your table!
