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Founded Year

2013

Stage

IPO | IPO

Total Raised

$110M

Date of IPO

10/20/2021

Market Cap

0.02B

Stock Price

0.49

About Cyngn

Cyngn (NASDAQ: CYN) is an autonomous vehicle robotics company. Its DriveMod Kit can be installed on new industrial vehicles at the end of production or retrofitted onto existing fleets, allowing customers to easily adopt self-driving technology. It also offers Cyngn Insight, a customer-facing audiovisual fleet management and analytics tool, and Cyngn Evolve, an internal toolkit for data analysis and simulation. It has applications in multiple industries such as logistics and distribution, manufacturing, construction and heavy engineering, and mining. It was formerly known as Cyanogen. It was founded in 2013 and is based in Menlo Park, California.

Headquarters Location

1015 O’Brien Drrive

Menlo Park, California, 94025,

United States

650-924-5905

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Research containing Cyngn

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Cyngn in 1 CB Insights research brief, most recently on Sep 7, 2022.

Expert Collections containing Cyngn

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Cyngn is included in 1 Expert Collection, including Auto Tech.

A

Auto Tech

2,466 items

Includes companies working on fully autonomous vehicles, full-stack self-driving solutions, and the components (such as perception software, sensor hardware, HD mapping, and simulation) that help train autonomous vehicles and guide them on the road.

Cyngn Patents

Cyngn has filed 35 patents.

The 3 most popular patent topics include:

  • Autonomous cars
  • Sensors
  • Advanced driver assistance systems
patents chart

Application Date

Grant Date

Title

Related Topics

Status

10/19/2022

9/19/2023

Autonomous cars, Automotive technologies, Advanced driver assistance systems, Car brands, Robotics

Grant

Application Date

10/19/2022

Grant Date

9/19/2023

Title

Related Topics

Autonomous cars, Automotive technologies, Advanced driver assistance systems, Car brands, Robotics

Status

Grant

Latest Cyngn News

Cyngn agrees ‘pre-order’ deal with Arauco for 100 autonomous electric forklifts

Sep 23, 2023

September 23, 2023 Cyngn , a developer of AI-powered autonomous driving solutions for industrial applications, has signed paid “pre-order agreement” with Arauco , a producer of sustainable forestry products, pulp, and engineered wood that supplies the furniture and construction industries. The initial 100 autonomous electric DriveMod-enabled forklifts aim to enhance Arauco’s operations and drive efficiency in their material handling processes in the near future. The company says this pre-order agreement marks a significant milestone in Cyngn’s DriveMod Forklift initiative that was first announced in June and exemplifies the two companies’ collaborative efforts to power AI innovations. Deliveries to Arauco are targeted to begin in 2024. Arauco is a well-known and established wood products supplier with over $7 billion in revenue in 2022. Arauco supplies high-quality wood products to global customers and is committed to sustainability and carbon neutrality. With the intention of electrifying their fleet of forklifts and integrating autonomous capabilities, Arauco expects to support its environmental goals, while maximizing operational productivity, efficiency, and safety. Lior Tal, CEO of Cyngn, says: “Working with a global power-house like Arauco is a testament to the transformative power of autonomous technology in the industrial sector. “We are proud and excited to be working as the preferred forklift automation provider for Arauco and to assist them in their pursuit of sustainability, safety, and operational excellence. “By combining our expertise in computer vision and AI algorithms, we are confident in delivering the performance and utility required for their operations with our DriveMod autonomous forklifts.” The initial pre-order of 100 autonomous electric forklifts refers to only a small portion of Arauco’s existing fleet but represents a meaningful initial annual recurring revenue deployment for Cyngn that could cover up to approximately 20 per cent of Cyngn’s current monthly cash burn, demonstrating the potential for growth and expansion in the partnership. The companies are addressing the challenge of automating heavy loads with non-standard pallet pockets, which was previously unmet by other industrial autonomy providers. Arauco expects to benefit from the performance of more than 10,000 pounds of autonomous lift capacity, an industry-leading metric that would enable a single forklift solution to automate all of Arauco’s use cases. Cyngn’s initiative for autonomous electric forklifts would help support Arauco by effectively tackling the labor shortage, safety, and efficiency challenges faced by modern manufacturers. This pre-order agreement for 100 autonomous forklifts builds upon a previously-announced collaboration with the global building materials manufacturer. Together, Cyngn and Arauco expect to establish, create and expand DriveMod across sites and use cases, and potentially increase Arauco’s autonomous fleet in the coming years. Share this:

Cyngn Frequently Asked Questions (FAQ)

  • When was Cyngn founded?

    Cyngn was founded in 2013.

  • Where is Cyngn's headquarters?

    Cyngn's headquarters is located at 1015 O’Brien Drrive, Menlo Park.

  • What is Cyngn's latest funding round?

    Cyngn's latest funding round is IPO.

  • How much did Cyngn raise?

    Cyngn raised a total of $110M.

  • Who are the investors of Cyngn?

    Investors of Cyngn include Foxconn, Redpoint Ventures, Benchmark, Andreessen Horowitz, Tencent and 13 more.

  • Who are Cyngn's competitors?

    Competitors of Cyngn include Mason and 1 more.

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  • Predict emerging trends
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  • Stalk the smart money
  • Identify tomorrow's challengers
  • Spot growing industries
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