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Seegrid is making ready to broaden its product line from the LIft RS1 (left) to the Elevate CR1 (proper). | Credit score: SeeGrid
Seegrid Corp. yesterday closed its $50 million Collection D funding spherical, led by current traders Big Eagle Inc. and G2 Enterprise Companions, together with contributions from different shareholders. The Pittsburgh-based firm mentioned it plans to make use of the funding to speed up market initiatives for its autonomous cellular robots, or AMRs.
“We’re thrilled to have secured this extra funding from our traders,” acknowledged Joe Pajer, president and CEO of Seegrid. “It permits us to drive our revolutionary AMR expertise and options into the market quicker, delivering much more worth to our clients sooner.”
“As well as, this funding is a testomony to the arrogance our traders have in our imaginative and prescient, the power of our modern AMR expertise and options, and the accelerating market traction we’re reaching,” he mentioned. “Seegrid pioneered and stays the chief within the autonomous tow tractor market. We are actually revolutionizing the {industry} once more, as we efficiently develop, manufacture, and deploy revolutionary new autonomous carry truck options.”
Demand drives AMR progress
Seegrid mentioned it has seen stronger progress than anticipated available in the market for autonomous carry vans, which Work together Evaluation predicted might attain practically $3.5 billion by 2027. The firm additionally famous that a number of segments of manufacturing are investing closely in automation, together with automotive, heavy tools, plastics, and client items.
How will Seegrid spend its newest funding?
“The Collection D funding might be used primarily to speed up R&D to additional construct upon the constructive momentum we’re seeing from the market and particularly with our lift-truck initiatives,” Pajer instructed The Robotic Report. “This R&D will lead to extra product choices, such because the CR1, and the continued enhance in capabilities of our present choices. Funding will even be used to help our fast progress by way of product shipments and manufacturing capability.”
Seegrid CEO Joe Pajer at an industrial facility with the Elevate RS1 and Tow Tractor S7 AMRs. | Credit score: Seegrid
CR1 Elevate Truck to be launched later this yr
It has been nearly two years since Seegrid launched its first automated carry truck. The Palion Elevate RS1 was designed to move and carry payloads weighing 1,600 kg (3,527.3 lb.) as much as 183 cm (6 ft.) off the bottom.
Later this yr, Seegrid will launch its second automated carry, the Elevate CR1.
The CR1 will help the transport and lifting of payloads as much as 1,800 kg (3,968.3 lb.) and 457 cm (15 ft.) off the bottom. The CR1 additionally gives a ride-on chassis that enables an operator to take over operations or rapidly recuperate the robotic.
Each methods supply comparable operational capabilities, however with totally different payloads and attain. By increasing the product line, Seegrid mentioned it is going to be capable of remedy materials dealing with necessities for extra clients
The corporate is concentrated on use case functions comparable to parts-to-line, end-of-line to outbound staging, inbound staging to place away, and uncooked supplies to work cell sub-assembly.
“We now have launched revolutionary applied sciences within the final six months, together with Sliding Scale Autonomy, which offers excessive ranges of each flexibility and predictability in autonomous navigation and manipulation, and Enhanced Pallet and Payload Detection, which permits dependable recognition and manipulation of the broad vary of payloads required by world-class producers,” added Pajer. “When these unique-to-Seegrid applied sciences are mixed with many years of industry-leading deployment expertise acquired from our management within the autonomous tow-tractor market, we’re chosen repeatedly by blue-chip clients who search autonomous options that work in the actual world.”
Seegrid takes an extended and winding highway
Coming into its third decade, Seegrid has been by its share of struggles and strategic pivots in its journey. The corporate claims that its methods have autonomously pushed greater than 14 million manufacturing miles up to now and that it has deployed greater than 2,000 AMRs at over 200 buyer websites for over 50 international manufacturers.
In 2022, CEO Jim Rock stepped down, and Pajer took the reins. Seegrid has additionally confronted chapter and layoffs. The corporate mentioned it has emerged stronger and extra targeted.
