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Seegrid is making ready to increase its product line from the LIft RS1 (left) to the Raise CR1 (proper). | Credit score: SeeGrid
Seegrid Corp. yesterday closed its $50 million Sequence D funding spherical, led by present 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 cell robots, or AMRs.
“We’re thrilled to have secured this extra funding from our traders,” said Joe Pajer, president and CEO of Seegrid. “It allows 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 energy 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 development
Seegrid mentioned it has seen stronger development than anticipated out there for autonomous carry vans, which Work together Evaluation predicted may 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 shopper items.
How will Seegrid spend its newest funding?
“The Sequence D funding shall be used primarily to speed up R&D to additional construct upon the constructive momentum we’re seeing from the market and specifically 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 can even be used to assist our fast development by way of product shipments and manufacturing capability.”
Seegrid CEO Joe Pajer at an industrial facility with the Raise RS1 and Tow Tractor S7 AMRs. | Credit score: Seegrid
CR1 Raise Truck to be launched later this yr
It has been virtually two years since Seegrid launched its first automated carry truck. The Palion Raise 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 Raise CR1.
The CR1 will assist 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 affords a ride-on chassis that enables an operator to take over operations or rapidly recuperate the robotic.
Each programs supply related operational capabilities, however with totally different payloads and attain. By increasing the product line, Seegrid mentioned will probably be capable of clear up materials dealing with necessities for extra clients
The corporate is concentrated on use case purposes resembling parts-to-line, end-of-line to outbound staging, inbound staging to place away, and uncooked supplies to work cell sub-assembly.
“We’ve got 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 allows 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 true world.”
Seegrid takes an extended and winding street
Coming into its third decade, Seegrid has been via its share of struggles and strategic pivots in its journey. The corporate claims that its programs 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 world 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 centered.