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Cyngn Hires Experienced Industrial Automation VP of Sales, Marty Petraitis, to Accelerate Revenue

Cyngn has announced that Marty Petraitis is joining Cyngn as Vice President of Sales.

Cyngn |

MENLO PARK, Calif., November 4, 2024 – 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.

“Marty is known for his ability to transform sales organizations through value-based strategies. He has a proven track record of accelerating growth across global markets, with particular expertise in industrial automation and enterprise sales,” said Cyngn CEO Lior Tal.

Prior to joining Cyngn, Petraitis led sales at Heartland Automation, where he successfully pivoted the company from product-based offerings to high-value, solutions-focused services in the autonomous mobile robotics sector. His leadership in prior roles includes executive positions at Clearpath Robotics/OTTO Motors, Segue Manufacturing Services, and Brooks Automation, where he scaled revenue to over $210M by championing strategic accounts and consultative sales methods. Marty’s skill in establishing predictable revenue models, fostering channel partnerships, and aligning marketing with sales strategy has contributed to the success of numerous technology startups and established companies alike.

As Cyngn continues to expand its presence in the autonomous driving software market, the Company is focused on strengthening its sales team to meet growing customer demand. To explore current career opportunities at Cyngn, please visit https://www.cyngn.com/company/careers#current-jobs.

About Cyngn

Cyngn builds and deploys Autonomous DriveMod Tuggers for industrial organizations. The Company addresses significant challenges facing industrial operations today, including labor shortages and costly safety incidents.

The Autonomous DriveMod Tugger automates the repetitive material handling routes that keep manufacturing and warehouse floors running, without high upfront costs or infrastructure installation, and targets a typical payback period of less than two years.

Through EasyLaunch™, the Company's deployment program, customers can put one tugger on a single route for one monthly payment, with no capital expenditure and no long-term commitment.

Investor Contact

Natalie Russell, CFO

Media Contact

Luke Renner, Head of Marketing

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 26, 2026. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Press Release Disclosure

This blog post is provided for informational purposes only and is being cross-posted from the investor relations site as a courtesy. In the event of a discrepancy between what you see here and what you will find the investor relations site, the latter version shall control. You may find that version here: https://investors.cyngn.com/press-releases.

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