Cyngn Raises $33M to Accelerate Growth

Autonomous driving software company Cyngn has secured $33 million in funding. The additional capital allows the company to scale production and deployment of DriveMod Tugger autonomous hauling units and advance the commercial release of its autonomous DriveMod Forklift.

According to Cyngn chairman and CEO Lior Tal, the funding allows the company to build on its recent momentum to address increasing demand for automation solutions in the automotive, heavy machinery, and logistics industries.

The company noted its first paid autonomous forklift deployment in October 2024, and deployments at major organizations in defense and automotive manufacturing as well as collaborations with OEMs and industry leaders are among its recent milestones.

Cyngn collaborated with Ouster in 2023 to add Ouster’s REV7 digital lidar sensors into Cyngn’s DriveMod platform.