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Seegrid Secures $25M in Additional Financing


PITTSBURGH, PA – August 23, 2016 – Seegrid, the pioneer and leader in vision-based autonomous industrial vehicles, announced today that the company has raised approximately $12M of equity capital from Giant Eagle, its majority shareholder, and several other existing and new investors, and has a commitment for an additional $13M from Giant Eagle.

“Seegrid is poised to repeat its 100-percent revenue growth from last year,” said Jim Rock, Seegrid’s CEO. “Seegrid continues to expand its customer base, which currently includes leading global companies such as Whirlpool, Daimler, and Jaguar Land Rover. Our customers use Seegrid’s driverless autonomous vehicle robots to streamline their manufacturing and distribution operations and improve their outstanding safety processes.”

“We are excited to be working with some of today’s most innovative global companies,” continued Rock. “This latest infusion of funding will fuel the company’s continued growth, new product development, and customer support resources. We help our customers stay ahead of their competitors by providing flexible vision guided vehicles to support cost-effective driverless autonomous material transport and IoT initiatives. This funding enables us to focus on our cutting-edge robotics innovation to ensure our list of industry-leading customers continues to expand, and it demonstrates the confidence our shareholders have in our technology and company.”

About Seegrid

Seegrid is the leading provider of connected self-driving vehicles for materials handling with hundreds of thousands of miles driven. The Seegrid Smart Platform combines flexible and reliable infrastructure-free vision guided vehicles with fleet management and enterprise intelligence data for a complete connected solution. Seegrid accelerates Industry 4.0 and lean initiatives with incremental automation, helping companies achieve a truly connected enterprise and transform into smart factories of the future. www.seegrid.com

Media Contact
Racepoint Global for Seegrid
Joel Richardson
seegrid@racepointglobal.com
202-517-1502

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