February 22, 2021

PerroneRobotics TONY400x275Business incubator and investment group CapStone Holdings has announced a $10 million equity investment in Perrone Robotics, which is developing fully autonomous vehicle systems. A portion of the investment will be used to establish an advanced autonomous vehicle testing facility at the American Center for Mobility in Southeast Michigan.

Perrone develops a general-purpose robotics operating system and autonomous vehicle retrofit kit known as TONY (To Navigate You). TONY embeds inside any vehicle to provide a complete “artificial driver” solution that brings full autonomy in a safety certifiable framework for the right vehicle platform, the company said. This aims to help commercial, municipal and governmental customers increase their transportation efficiencies, enhance safety, and accelerate zero-emission electric vehicle deployment.

The new testing facility will enable advanced, high-speed, and continuous testing of autonomous transit vans, shuttles, and other vehicles equipped with the TONY system, which is capable of Level 4 and 5 autonomy.

“CapStone Holdings’ investment allows us to scale and capture the extraordinary pipeline of opportunity and interest our technology has garnered over the past few years,” said Perrone Robotics founder and CEO Paul Perrone. “Our general-purpose retrofit kit approach, proven in over 30 different vehicles to date and tailored for geographically fenced applications, has touched a nerve. Customers see real value in the Perrone Robotics path to deployable and production-grade autonomy in vehicles most suited for their operational environment. This investment, along with the opening of a test facility at ACM, will bring a hardened and proven commercial product fully to market.”

A leading test center for developing and testing self-driving vehicles, the ACM includes several real-world environments with the ability to test under a range of driving environments and infrastructure, including a 2.5-mile highway loop, a 700-foot curved tunnel, two double overpasses, intersections and roundabouts.

The company also recently deployed an all-electric, fully autonomous paratransit vehicle to the Jacksonville Transit Authority, with speeds capable of up to 65 mph. In addition, the company announced a partnership with an international fleet orchestration platform provider that automates dispatching, routing, and ride-matching for autonomous fleets.

Related video: