Seegrid, a company that builds self-driving vehicles to transport materials in industrial environments, has added a further $27 million to its recent equity funding. This closes the round at $52 million and takes the company’s total raised to $150 million, with a valuation “in excess of $400 million.”
Founded in 2003, Pittsburgh, Pennsylvania-based Seegrid has created two vision-guided vehicles (VGVs) capable of moving materials in warehouses and manufacturing sites completely autonomously. Both vehicles are on the market — a pallet truck that can transport 8,000 pounds of goods and a tow tractor that can shift 10,000 pounds.
The funding extension comes amid unprecedented demand for automated technologies due to the COVID-19 crisis. Seegrid CEO Jim Rock said he expects the company to double its revenues in 2020, which means it will have to expedite product development and new hires.