has secured additional financing

Headwaters MB Advised Seegrid in Securing $25M in Additional Financing

August 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.

Industry Experience

Industrial Technology

Lead Professional

Samrat Karnik

Managing Director