Seegrid Corporation, a leader in autonomous mobile robots (AMR) for pallet material handling, has closed a $50 million Series D funding round. This investment was led by Giant Eagle Incorporated and G2 Venture Partners, along with other existing shareholders.
Joe Pajer, CEO and President of Seegrid, stated: “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.”
The investment will allow Seegrid to accelerate its initiatives in the autonomous forklift market, a segment experiencing greater than expected growth and projected to reach $3.5 billion by 2027. “Ongoing labor shortages and wage inflation, along with increasing consumer demand, are driving the rapid adoption of autonomous technologies in manufacturing, warehousing, and logistics,” Pajer added.
Seegrid has introduced innovative technologies in the last six months, such as Sliding Scale Autonomy and Enhanced Pallet and Payload Detection, offering high levels of flexibility and predictability in autonomous navigation and load handling. Additionally, Seegrid will launch its second autonomous forklift, the CR1, later this year.