Outrider, a Golden, CO-baseed pioneer in autonomous yard operations for logistics hubs, closed a $73m Series C financing.
The round was led by FM Capital with participation from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and NVentures, NVIDIA’s venture capital arm, B37 Ventures, Lineage Ventures, the corporate venture capital arm of Lineage Logistics, Presidio Ventures, the venture capital arm of Sumitomo Corporation, and ROBO Global Ventures, as well as existing investors Koch Disruptive Technologies (KDT) and New Enterprise Associates (NEA). Additionally, Henrik Christensen, a founding member of ROBO Global’s Advisory Board and Qualcomm Chair of Robotics at UC San Diego, has joined the company as a board advisor.
The company will use this funding to expand its proprietary autonomy and safety technology portfolio, increase hiring domestically and internationally, and scale its yard automation solution with large customers in package shipping, retail, eCommerce, consumer packaged goods, grocery, manufacturing, and intermodal industries.
Led by Andrew Smith, CEO and Founder, Outrider provides autonomous yard operations solutions for logistics hubs. It works with logistics-dependent enterprises to eliminate manual tasks that are hazardous and repetitive. Outrider’s fully autonomous system dynamically adapts to changes occurring in the yard, such as interacting with over-the-road semi-trucks, delivery vehicles, service vehicles, and integrates with supply chain management systems. At the center of the system is the autonomous yard truck, which hitches to and unhitches from trailers, robotically connects and disconnects trailer brake lines, backs semi-trailers with precision, interacts safely with loading docks, and keeps track of trailer locations throughout the yard.
FinSMEs
19/01/2023