Pandemic drives demand for material handling automation as company plans to boost hiring, product development, acquisitions.
Self-driving vehicle provider Seegrid has landed $52 million in investment funding since March for its automated guided vehicles (AGVs) in the material handling sector, saying it plans to use the additional capital to increase the size of its workforce, accelerate new product development, and consider potential strategic acquisitions.
Pittsburgh-based Seegrid had previously announced the first $25 million of the funding round in March, which was funded by lead investor G2VP LLC, a Menlo Park, California-based private equity firm. The company has now added $27 million more funding from “leading technology and robotics investors,” bringing its total funding to date to more than $150 million.
