MENLO PARK, Calif., Dec. 20, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, today announced the pricing of a follow on offering, priced at the market, with gross proceeds to the Company expected to be approximately $20.0 million, before deducting placement agent fees and other estimated offering expenses payable by the Company.

 Recent Operating Highlights:

MENLO PARK, Calif., Nov. 4, 2024 /PRNewswire/ -- Today, Cyngn Inc. (Nasdaq: CYN) announced that Marty Petraitis is joining Cyngn as Vice President of Sales. Petraitis brings over two decades of leadership experience in scaling revenue within technology-driven sectors, including automation, SaaS, and manufacturing systems. In this role, Petraitis will oversee Cyngn's global sales strategy, market expansion, and the adoption of Cyngn's Enterprise Autonomy Suite (EAS) by new organizations.

MENLO PARK, Calif., Nov. 1, 2024 /PRNewswire/ -- Today, Cyngn Inc. (Nasdaq: CYN) announced that it successfully deployed its DriveMod Tugger at a defense contractor's facility.

While details are not being disclosed for security reasons, the engagement highlights the applicability of Cyngn's autonomous vehicle technology to address the rigorous operational needs of defense industry manufacturing applications, which can be particularly stringent work environments with high associated costs.

MENLO PARK, Calif., Oct. 31, 2024 /PRNewswire/ -- Today, Cyngn announced that it has received a signed Letter of Intent (LOI) from a major automotive supplier to sell and deploy multiple DriveMod Tuggers in early 2025. This achievement demonstrates Cyngn's continued traction with its Enterprise Autonomy Suite ("EAS") automation solutions for heavy manufacturing industries. Just last week, Cyngn announced a new contract with a different automotive manufacturing customer.

MENLO PARK, Calif., Oct. 25, 2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced the expansion of its dealer network to include Kennedy Robotics AI, a provider of innovative autonomous robotics solutions. Kennedy Robotics will begin selling Cyngn's autonomous DriveMod Tugger, which bundles Cyngn's AV technology with Motrec's MT-160 vehicle.

"We are excited to welcome Kennedy Robotics AI to our growing dealer network, bringing the DriveMod Tugger to even more businesses seeking reliable, safe, and innovative AV solutions," said Cyngn CEO, Lior Tal.

In recent weeks, Cyngn — 

MENLO PARK, Calif., Oct. 22, 2024 /PRNewswire/ -- Today, Cyngn Inc. (Nasdaq: CYN) shared several company milestones and key achievements, including significant commercial progress, the expansion of its dealer network, and recent patents. Together, these achievements are positioning the Company for growth.

MENLO PARK, Calif., Oct. 21 ,2024 /PRNewswire/ -- Today, Cyngn announced that its autonomous DriveMod Forklift has completed its first paid autonomous deployment at a customer facility, marking an important milestone in the commercialization of the next vehicle in Cyngn's Enterprise Autonomy Suite (EAS) portfolio. Built with an array of safety systems, including 360° high-definition perception and Cyngn's Virtual Bumper technology, the DriveMod Forklift safely navigates dynamic environments while attaining high operational precision.

Since August 2023, Cyngn has been granted eleven additional patents, bringing the total U.S. patents granted to 21. Patent 21 enhances Cyngn's autonomous vehicles' capability to make informed decisions regarding their surroundings.

MENLO PARK, Calif., Oct. 16, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) announced the official granting of a new patent, 12,039,867. This patent covers the Company's innovative autonomous vehicle (AV) solutions.

MENLO PARK, Calif., Oct. 15, 2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced the expansion of its dealer network to include Raymond West. A leading distributor and integrator of intralogistics solutions, Raymond West will begin selling Cyngn's autonomous DriveMod Tugger. The autonomous tugger integrates Cyngn's AV technology with Motrec's MT-160.

"With 21 branches across the West Coast, Raymond West is an impressive company. It boasts more than $800 million in annual revenue — and we are excited to be able to add Cyngn's autonomous vehicles to their catalog," said Lior Tal, CEO of Cyngn. "Motrec's industrial vehicles are known for high towing capacity and reliability. We are excited to equip Raymond West with the tools and training needed to offer our self-driving industrial vehicles to their customers. Their success is integral to our success."

MENLO PARK, Calif., Sept. 24, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) Cyngn today announced the first build of the next-generation 12,000 lb DriveMod Tugger has been successfully completed at the facility of its OEM partner, Motrec International Inc. This key milestone achieves the previously announced upgrade that increases towing capacity from 6,000 lb to 12,000 lb and marks a step forward for integrating Cyngn's proprietary DriveMod technology with Motrec's MT-160 tow tractor at scale.

MENLO PARK, Calif., Sept. 10, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) today announced that its AI-powered autonomous driving solution, DriveMod, will be able to operate in outdoor environments. Organizations will be able to send the DriveMod Tugger on missions that go indoors and outdoors, giving facility managers even more opportunity to automate repetitive workflows and shift employees over to more interesting, higher-value tasks.

MENLO PARK, Calif., Sept. 4, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) today announced the official granting of a new patent, U.S. Patent No. 12,032,099, which introduces a method to maintain the accuracy of data collected by an autonomous vehicle's sensors as the vehicle moves.

At its core, the patent optimizes sensor data processing by integrating advanced LiDAR and image technologies. By initially capturing comprehensive environmental data, the system then calculates and adjusts for any time delay between data acquisition and processing. Crucially, it dynamically generates a motion model based on real-time sensor movements across multiple axes, ensuring precise predictions of future positions.

MENLO PARK, Calif., April 9, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), today announced its initial deployment with Polaris Inc. ("Polaris), a Fortune 500 industry leader in powersports that boasted $8.9 billion in sales in 2023. The deployment brings the DriveMod Tugger to Polaris' Madison, Alabama manufacturing facility, enabling chains of multiple carts containing vehicle frames and components to be towed autonomously.

Cyngn uses Ouster's REV7 lidar sensors to maximize DriveMod's self-driving capabilities and detect pallet stack attributes

MENLO PARK, Calif., Aug. 22, 2023 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, recently secured a pre-order of 100 DriveMod Forklifts from Arauco, a global provider of sustainable forestry products. Once deployed, this order represents up to $5 million in annual recurring EAS license revenues while addressing only a small portion of Arauco's existing forklift fleet.