Outrider raises $73M in new funding

Mohamed Siddeek, head of NVenture, said: “The basic processing pipeline for self-driving cars is applicable to all kinds of self-driving and robotics systems, and this is an area of ​​focus for Nvidia.”

B37 Ventures, Lineage Ventures, the venture capital arm of Lineage Logistics, Presidio Ventures, the venture arm of Sumitomo Corporation, and ROBO Global Ventures also participated in the funding round.

Henrik Christensen, Founding Member of ROBO Global’s Advisory Board and Chairman of Qualcomm’s Robotics Division at the University of California, San Diego, has joined Outrider as an Advisor to its Board of Directors.

Existing investors participating in this round include Koch Disruptive Technologies and New Enterprise Associates.

To date, Outrider has raised $191 million in funding. Founded by Andrew Smith in 2017, the company plans to open in 2022. car news All-Stars includes early investors from industrial warehouse giant Prologis, Evolv Ventures and a $100 million venture fund from Kraft Heinz.

This latest funding injection follows the debut of Outrider’s TrailerConnect system, which robotically connects electrical and pressurized brake lines to trailer and container chassis.

TrailerConnect uses robotic arms to find and identify different connection patterns between trailers. It relies on software-based algorithms, hardware and sensors integrated into robotic arms and is part of Outrider’s goal to provide self-driving electric trucks to automate cargo yards.

Outrider says its customer fleet accounts for more than 20% of all yard trucks in operation in North America. Since 2019, the company has been working with customers on joint product testing and pilot operations.

In 2021, Outrider partnered with consumer goods giant Georgia Pacific to equip its distribution center in Elmwood, Illinois with vehicles that have completed 1,000 automated zero-emission trailer moves.

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