The company has raised £8m to fund strategic expansion plans that will see the continued development and future roll-out of its Auto-Dolly product, an autonomous vehicle for carrying cargo and luggage at airports.
Located at its advanced engineering centre in Coventry, the new investment will be used to scale up future production and build on trials at Changi International Airport in Singapore and Gerald R Ford International Airport in the US.
Formed 29 years ago by brothers David and Graham Keene, Aurrigo is set to create over 50 jobs in the UK and at overseas sales and technical offices in North America and the Far East.
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In a statement, Prof. David Keene, CEO of Aurrigo International plc, said: “The global transportation market is ripe for disruption. Aviation has significant structural constraints, with decades old technology/equipment and labour shortages hampering its recovery from Covid-19 and its long-term growth prospects. “Our…autonomous technologies are ready to revolutionise airport ground handling of baggage and cargo, and our Auto-Sim ‘digital twin’ modelling software can unlock efficiencies for all aspects of airport operations worldwide.
He continued: “An AIM IPO represents a significant milestone for Aurrigo and provides a platform to fulfil our potential whilst making a meaningful difference to airports, airlines, passengers and cargo around the world.”
Aurrigo International plc placed 41,666,667 ordinary shares at 48 pence per share on the listing on September 12, 2022, giving the company a market capitalisation of £20m.
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