Denver, CO (August 16, 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 its existing and several new investors, and has a commitment for an additional $13M from an existing investor.
“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.”
Seegrid received fairness opinion services from Needham & Company and financial advisory services from Headwaters MB. Legal support was provided by Buchanan Ingersoll & Rooney PC and McDermott, Will & Emery LLP.
About Headwaters MB
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named "Investment Bank of the Year" by major organizations for its third consecutive year, Headwaters MB is headquartered in Denver, CO with seven regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit www.headwatersmb.com.
Seegrid, the pioneer and leader in three-dimensional vision navigation, provides unique and revolutionary automation technology for materials handling. Engineered with state-of-the-art Seegrid Vision, industrial trucks are transformed into the next generation of automated guided vehicles (AGVs): vision guided vehicles (VGVs). VGVs navigate without wires, lasers, magnets, or tape and deliver unmatched flexibility. Designed for simplicity and reliability, the Seegrid flexible automation solution is available in a line of pallet trucks and tow tractors.
Experience the maximum benefits of VGVs with the Seegrid Supervisor software application to manage, monitor, and control a fleet of vehicles. Generating economic advantages and operational efficiencies, VGVs optimize workflow processes, increase productivity and throughput, and reduce labor and operating costs, all while improving workplace safety, reducing equipment and product damage, and delivering a rapid return on investment.
For more information, visit www.seegrid.com
Director of Marketing