A company that develops self-driving industrial vehicles for material handling called Seegrid has closed a $25 million growth equity investment from venture capital firm G2VP.

According to Seegrid, the investment, which reflects a multi-hundred million dollar valuation, will help the company further capitalize on its position as a market leader in the automated guided vehicle (AGV) and autonomous mobile robots (AMRs) industry.

“The investment from G2VP allows us to more quickly meet demand and accelerate new product introductions previously scheduled for 2021 and 2022 -- as well as support our significant growth and hiring plans,” comments Jim Rock, Seegrid chief executive officer.

Seegrid helps manufacturing, warehousing, and logistics facilities achieve Industry 4.0 and material handling automation initiatives with its vision guided vehicles (VGVs), fleet management software, and services teams. This combination helps make facilities safer and more productive, the company says. Seegrid adds that its focus is on delivering platforms that “transform the world’s supply chain, autonomously moving material as safely, effectively, and efficiently as possible.”

Seegrid combines flexible and reliable technology with what it describes as “unmatched” service and support. The company’s proprietary navigation technology utilizes cameras, sophisticated algorithms and machine learning to navigate in dynamic environments. That technology combined with a strong safety record has helped the company reach nearly three million miles at customer sites without a single personnel safety incident. Seegrid notes that it leads the world in miles logged by an infrastructure-free AGV company.

“G2VP invests in emerging technology companies that digitize traditional industries and drive market transformations. Seegrid is such a company,” explains G2VP co-founder and partner David Mount.

“Its self-driving vehicle technology is indisputable in its value and safety track record, and we are thrilled to invest in Seegrid and support their mission of helping the world’s leading companies transform into smart factories and distribution centers of the future.”