Seegrid Corporation, a provider of autonomous mobile robots (AMRs) for pallet material handling, today announced the successful closure of its $50M 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. The investment allows Seegrid to accelerate its autonomous lift truck market initiatives, generating more growth than expected in a market projected to reach nearly $3.5B by 2027 (Interact Analysis, Mobile Robots – 2023).
“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,” said Seegrid’s CEO and President, Joe Pajer. “In addition, this investment is a testament to our investors’ confidence 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 revolutionizing the industry again as we successfully develop, manufacture, and deploy innovative new autonomous lift truck solutions.”
“Unrelenting labor shortages and wage inflation, accompanied by increasing consumer demand, are driving rapid market adoption of autonomous technologies in manufacturing, warehousing, and logistics,” continued Pajer. “This is particularly true in the area of palletized material flows, which are addressed by Seegrid’s autonomous tow tractors and lift trucks. This market segment 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, underscoring its leadership in the AMR space and setting the stage for continued success and innovation in the future of material handling automation.
