Seegrid announces record-breaking 2017 financial results

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Seegrid has announced that 2017 was a record year with financial results surpassing milestones that had been set in the previous 12 for both revenue and profit.

“Manufacturing and e-commerce companies are under pressure to modernize their operations and transform their facilities into the smart factories of the future,” said Jim Rock, CEO of self-driving material-handling equipment provider Seegrid.

“Our customers expect a partner who can not only deliver a quality product, but help shepherd the transition into a more automated, data-driven environment.”

The demand for vision guided vehicles (VGVs) drove a significant increase in customer growth in 2017. New and existing customers selected the Seegrid Smart Platform to make their facilities safer and more productive as connected automation becomes best practice.

Existing customers in automotive, e-commerce and distribution placed additional orders to expand their VGV fleets, having increased safety, improved workflow efficiency, and achieved ROI with Seegrid vehicles.

In 2018, automated solutions will continue to be a priority capital investment for manufacturing and distribution leaders. Seegrid will support this adoption with the expansion of its Smart Platform, releasing new self-driving vehicles and software features in 2018.

As enterprise adoption of automation continues, Seegrid remains well equipped to advise and partner with existing and future customers.

Last year also marked a year of continued growth and innovation for Seegrid as the company expanded its product suite with the GP8 Series 6 self-driving pallet truck, which offers fully automated material movement from pick-up to drop-off. Operating entirely infrastructure-free, the GP8 Series 6 provides an end-to-end automation solution aligned with Industry 4.0 and lean initiatives.

As Seegrid saw continued success and customer growth throughout 2017, the company added new jobs, expanding its engineering, customer engagement, and deployment departments by 30%. Seegrid also expanded its geographic presence with new orders in Canada and Europe.

Seegrid closed out 2017 hitting a major milestone of 800,000 production miles (1,300,000km) by self-driving vehicles in customer facilities–without a single safety incident.

In 2018, the company will hit 1,000,000 miles (1,600,000km) driven autonomously by its VGVs and is committed to fulfilling its promise of zero safety incidents.

January 26, 2018

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About Author

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James joined the Industrial Vehicle Technology International team in 2017. Previously he was Assistant Editor on an engineering title for several years and has worked for various other trade magazines before that. James is happily married and has a young daughter who keeps him busy.

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