Seegrid Corporation, a Pittsburgh, PA-based leader in self-driving industrial vehicles for material handling, closed a $52m growth equity financing round.
The round, which brings total funding to date to more than $150m and valuation in excess of $400m, was led by G2VP ($25m) with participation from technology and robotics investors.
The company intends to use the funds to continue to increase the size of its workforce, accelerate new product development and new product introductions. The investment also will Seegrid also is considering potential strategic acquisitions.
Led by Jim Rock, Chief Executive Officer, Seegrid combines infrastructure-free vision guided vehicles, fleet management software, and actionable analytics for a complete, connected, material handling solution. Its navigation technology is used by manufacturing, warehousing and logistics companies around the world for applications from project design through deployment and training to drive them forward, not only assisting with their manufacturing, distribution, and e-commerce fulfillment needs, but making facilities safer and more productive.