On February 22, 2021, CapStone Holdings, a business incubator and investment group, announced a $10 million equity investment in Perrone Robotics, a leading provider of fully autonomous vehicle systems. Wilson Sonsini Goodrich & Rosati advised Perrone Robotics in the transaction.

Perrone delivers mobility excellence through the world’s first and only patented general purpose robotics operating system and autonomous vehicle retrofit kit, TONY. TONY embeds inside any vehicle, for any job, to provide a complete “artificial driver” solution that brings full autonomy in a safety certifiable framework for the right vehicle platform. Perrone’s solution helps commercial, municipal, and governmental customers increase transportation efficiencies, enhance safety, and accelerate zero-emission electric vehicle deployment.

Perrone will utilize a portion of the investment to establish an advanced autonomous vehicle testing facility at the American Center for Mobility (ACM) in Southeast Michigan. ACM is a collaborative effort of government, industry, and academic organizations focused on accelerating the mobility industry through testing, research, standards development, and educational programming. The new test facility will enable advanced, high-speed, and continuous testing of autonomous transit vans, shuttles, and other vehicles equipped with Perrone's TONY product.

The Wilson Sonsini team that advised Perrone Robotics on the financing includes Mark Fitzgerald, Tim Featherston, and Tamara Labanowski.

For more information, please see CapStone’s press release.