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About Cyngyn
Industries
Robotics & Automation
Industrial & Manufacturing
Company Size
51-200
Company Stage
IPO
Total Funding
$134.7M
Headquarters
Palo Alto, California
Founded
2013
Overview
Cyngn focuses on industrial autonomous vehicle technology, offering the Enterprise Autonomy Suite (EAS), which combines self-driving software, hardware, and analytics for industrial fleets. Their technology transforms traditional vehicles into self-driving fleets, enhancing efficiency in manufacturing and warehouse settings. Cyngn operates under a Robotics as a Service (RaaS) model, allowing clients to use their technology through a subscription, which reduces upfront costs. The company's goal is to improve productivity and operational efficiency in industrial environments.
Simplify's Take
What believers are saying
- Cyngn raised $33 million to expand its autonomous forklift business in January 2025.
- The company is expanding deployments across the U.S. and Mexico, indicating growing demand.
- Ongoing labor shortages increase demand for Cyngn's automation solutions in industrial sectors.
What critics are saying
- Increased competition from established players like Waymo and Tesla in industrial applications.
- Potential regulatory delays could impact Cyngn's autonomous vehicle deployment plans.
- Dependence on NVIDIA's hardware poses risks if licensing or pricing structures change.
What makes Cyngyn unique
- Cyngn's Enterprise Autonomy Suite is vehicle agnostic, supporting diverse industrial fleets.
- The company offers a Robotics as a Service model, reducing upfront costs for clients.
- Cyngn's proprietary computer vision technology is enhanced by NVIDIA's accelerated computing.
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Funding
Total Funding
$134.7M
Above
Industry Average
Funded Over
6 Rounds
Benchmark
Andreessen HorowitzBenefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
401(k) Retirement Plan
Commuter Benefits
Unlimited Paid Time Off
Stock Options
Sabbatical Leave
Paid Parental Leave
Meal Benefits
Growth & Insights and Company News
6 month growth
↑ 2%1 year growth
↑ 5%2 year growth
↑ 2%MENLO PARK, Calif., Jan. 28, 2025 /PRNewswire/ -- Today, Cyngn (Nasdaq: CYN) announced that it will be deploying its DriveMod Tugger at a major Consumer Packaged Goods (CPG) distribution company. This deployment reaffirms Cyngn's expanding presence across manufacturing and distribution, highlighting the versatility of its Enterprise Autonomy Suite ("EAS"). This news comes just after Cyngn's recent contract with a separate company in the automotive manufacturing space
MENLO PARK, Calif., Jan. 23, 2025 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced that it has continued making notable inroads with the automotive manufacturing sector. To date, the company has conducted DriveMod Tugger deployments at varying stages of maturity with no less than five major automotive Original Equipment Manufacturers (OEMs) or Tier-1 Suppliers.This traction has led to deployments across the United States and into Mexico, underscoring Cyngn's ability to provide scalable, cross-functional automation in diverse environments
Autonomous forklift developer Cyngn has secured US$33 million in funding, to expand its business and proliferate industrial autonomous vehicles. The funding will support the scaling of the production and deployment
MENLO PARK, Calif., Jan. 16, 2025 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) today announced the initiation of a production deployment with COATS Company, the largest full-line wheel service equipment manufacturer in North America, boasting over 70 years of industry experience. The deployment of Cyngn's DriveMod Tugger is underway at COATS' 150,000+ square foot manufacturing facility in La Vergne, Tennessee
Cyngn Inc. (Nasdaq: CYN) has raised $33 million to boost its growth in industrial autonomous vehicles. The funding will support operations, commercialization, and technology investments, including the launch of its autonomous forklift. Cyngn is expanding customer deployments and partnerships across industries like defense and automotive. The company aims to address labor shortages and operational costs with its AI-powered solutions, positioning itself for future growth in industrial automation.
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About Cyngyn
Industries
Robotics & Automation
Industrial & Manufacturing
Company Size
51-200
Company Stage
IPO
Total Funding
$134.7M
Headquarters
Palo Alto, California
Founded
2013
Cyngyn is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today