Colorado-based autonomous truck provider Outrider has raised $62 million in an oversubscribed Series D financing round. The round, led by Koch Disruptive Technologies, raises the amount of equity capital the company has received to $250 million.
Outrider, which was founded in 2019, said it will be using the funding to continue launching and scaling autonomous yard operations as a service in such industries as package shipping, retail and ecommerce, consumer packaged goods, and automotive, the company said. The company says its customers represent more than 20 percent of all yard trucks in operation in North America.
Many of these customers have been involved in product testing and pilot deployments, the company said. “By automating yard operations, Outrider is empowering supply chain workers to maximize facility throughput and safety while minimizing their exposure to repetitive, manual tasks performed in dangerous environments,” said Andrew Smith, Outrider founder and CEO, in a statement.
The company also said that while it plans to focus on distribution center applications, its technology is also suited for intermodal rail and port terminals.
Biden Announces $96 Million in Grants
In other connected and autonomous vehicle news, the Biden administration announced more than $96 million in advanced technology grants. One of the recipients is the California Department of Transportation, which will receive funding for its Interoperable V2X Deployment for User-focused CAV Using Existing Infrastructure project to expand connected vehicle infrastructure that was recently deployed by Caltrans.
