Autonomous vehicle developer raises £5.25m
Autonomous airside vehicle developer Aurrigo has raised £5.25m through a share placing.
This year, the international provider has secured major deals with airports and aviation companies across the world and opened its first operational office in the United States.
It will use the cash injection to scale the production of Auto-DollyTug ® . This all-electric autonomous baggage and cargo vehicle is designed to transform baggage and cargo handling operations at airports through improved safety, operational efficiency and reduced carbon emissions.
The investment will provide the platform to have 22 tugs in operation in 2025, potentially accelerate commercial sales timelines and enable the ‘go live’ moment with Auto-Cargo ® in partnership with UPS.
There will also be four live Auto-Sim ® contracts at international airports in the same period, which will help new and existing clients build digital twins of activity so they can optimise performance.
David Keene, CEO of Aurrigo International, commented: “This is a fantastic raise to finish the year and gives us the perfect platform to roll-out our iGSE (intelligent Ground Support Equipment) concept to the aviation world.
“We have early-stage engagement with 34 airports and 19 airlines, with eight customers now agreeing to use Auto-Sim ® . The investment will ensure we can scale our production capabilities and teams to meet the growing demand for technology that we are now proving in the real world.
“Unlike a lot of companies who just talk about the impact of their tech, we are actually delivering and will now need more engineering, software, manufacturing and supply chain staff, not to mention an increase in the number of specialists in our deployment teams.”
Coventry-based Aurrigo signed a world-first deal with Singapore Changi Airport Group (CAG). A fleet of four automated baggage-handling vehicles will pilot underwing operations throughout 2024 and 2025.
It also signed a partnership agreement with Aviation Solutions B.V., to support the roll-out of the Auto-DollyTug® baggage vehicle and Auto-Sim® software at Amsterdam Airport Schiphol.
Partnerships are also in place with British Airways parent company International Airlines Group and UPS.
