Seegrid Corporation, a leader in self-driving industrial vehicles for material handling, today announced that it closed a $52 million growth equity financing round, bringing the company’s total funding to date to more than $150 million. The investment round previously was announced when lead investor G2VP funded the first $25 million of the round. The company had the right to top off the round, which was oversubscribed, resulting in a total round of $52 million with additional funding from leading technology and robotics investors.
Seegrid intends to use the additional capital to increase the size of its workforce to deliver best-in-class automation solutions for its customers, who already have more than 3 million autonomous miles of Seegrid vision guided vehicles in production use. The investment also will accelerate new product development and new product introductions. Seegrid also is considering potential strategic acquisitions.
