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Outrider’s autonomous yard vans can automate operations in distribution yards. | Source: Outrider
Outrider, a developer of autonomous yard operations for logistics hubs, introduced that it raised $73 million in Series C financing, bringing the corporate’s complete funding raised to $191 million.
The firm plans to make use of the newest spherical of funding to increase its proprietary autonomy and security know-how portfolio, enhance hiring each domestically and internationally and scale its yard automation resolution with massive prospects. Outrider’s resolution can be utilized for bundle transport, retail, eCommerce, client packaged items, grocery, manufacturing and intermodal industries.
“Outrider has consistently delivered breakthrough technology to automate one of the most inefficient links in the supply chain – the distribution yard,” Andrew Smith, CEO and founding father of Outrider, stated. “Our customers will move massive quantities of freight more efficiently, safely, and sustainably using Outrider’s technology. We are thrilled to have an outstanding network of investors who share our vision to set a new standard for the global logistics industry.”
The Outrider System consists of three built-in components — administration software program, autonomous autos, and website infrastructure. In addition to the articulated backing know-how, the system can autonomously hitch to and unhitch from trailers, robotically join and disconnect trailer brake strains, work together safely with loading docks, monitor trailer areas, and centrally handle and monitor all system capabilities.
In February 2022, Outrider launched absolutely autonomous trailer backing capabilities to its fleet. The know-how allows autonomous yard vans to again trailers into tight areas with out modifications to trailers. According to Outrider, this is without doubt one of the most difficult maneuvers in confined distribution yards.
Outrider’s Series C spherical was led by FM Capital, and included participation from a lot of new buyers, together with a subsidiary of the Abu Dhabi Investment Authority and NVenture, NVIDIA’s enterprise capital arm, B37 Ventures, Lineage Ventures, the company enterprise capital arm of Lineage Logistics, Presidio Ventures, the enterprise capital arm of Sumitomo Corporation, and ROBO Global Ventures.
“Outrider has addressed all the pieces – technology, safety, operations, and support – needed to deploy a reliable, industrial-grade system at scale. The company is a case study in bringing advanced robotics and autonomy technology to market,” Mark Norman, Managing Partner of FM Capital, stated. “Outrider has a world-class team to scale their solution and FM Capital is excited to invest and join the company’s Board of Directors.”
The spherical additionally included current buyers within the firm, together with Koch Disruptive Technologies and New Enterprise Associates.
Additionally, Henrik Christensen, a founding member of ROBO Global’s Advisory Board and Qualcomm Chair of Robotics at UC San Diego, has joined Outrider as a board advisor.