Seegrid announces closing of $50M Series D investment

Seegrid, a Pittsburgh-based provider of autonomous mobile robots (AMRs) for pallet material handling, announced the closure of its $50M Series D investment round, funded by existing lead investors Giant Eagle Incorporated and G2 Venture Partners, as well as smaller investments from other existing shareholders.

The investment, according to the company allows Seegrid to accelerate its autonomous lift truck market initiatives, which are currently generating more growth than expected.

Seegrid takes major steps in AMR, lift truck production

Research firm Interact Analysis projected that mobile robot spending will reach nearly $3.5B by 2027.

"We are thrilled to have secured this additional funding from our investors. It enables us to drive our innovative AMR technology and solutions into the market faster, delivering even more value to our customers sooner," said Joe Pajer, president and CEO of Seegrid. "In addition, this investment is a testament to the confidence our investors have in our vision, the strength of our leading-edge AMR technology and solutions, and the accelerating market traction we are achieving. Seegrid pioneered and remains the leader in the autonomous tow tractor market. We are now revolutionizing the industry again, as we successfully develop, manufacture and deploy innovative new autonomous lift truck solutions.”

The company said this recent funding marks a significant milestone, underscoring Seegrid’s leadership in the AMR space and setting the stage for continued success and innovation in the future of material handling automation.

“Unrelenting labor shortages and wage inflation, accompanied by increasing consumer demand, are driving rapid market adoption of autonomous technologies in manufacturing, warehousing and logistics,” Pajer said. “This is particularly true in the area of palletized material flows; areas that are addressed by Seegrid’s autonomous tow tractors and lift trucks. This segment of the market is just now ‘coming into its own,’ and Seegrid is a clear leader.