Seegrid, a Pittsburgh, PA-based maker of self-driving industrial vehicles for material handling, closed a $25m growth equity funding.
G2VP made the investment, which brought the valuation of Seegrid to multi-hundred million dollars. In conjunction with the funding, G2VP co-founder and partner David Mount joined Seegrid’s board of directors.
The company intends to use the funds to accelerate new product introductions previously scheduled for 2021 and 2022, as well as support growth and hiring plans.
Led by Jim Rock, chief executive officer, Seegrid provides automation solutions for some of the world’s largest brands, including global leaders in manufacturing, distribution and e-commerce fulfillment. Its vision guided vehicles (VGVs), fleet management software, and services teams allow manufacturing, warehousing, and logistics facilities achieve Industry 4.0 and material handling automation initiatives, making facilities safer and more productive.