Outrider Launches with $53M in Funding to Automate Distribution Yards

USA - English

• USA - English

GOLDEN, Colo., Feb. 19, 2020 /PRNewswire-PRWeb/ -- Emerging from two years of stealth-mode operation, Outrider (https://hubs.ly/H0n2x9-0) today announced it has raised $53 million in funding and deployed initial pilots of its Outrider System, the first-to-market solution focused on autonomous yard operations for logistics hubs. The seed and series A funding rounds were led by NEA and 8VC, respectively.

The goal of distribution yards is to keep semi-trailers full of freight moving quickly in the space between the warehouse doors and public roads. However, many of the processes that make up yard operations are manual, inefficient, and hazardous.

"Logistics yards offer a confined, private-property environment and a set of discrete, repetitive tasks that make the ideal use case for autonomous technology. But today's yards are also complex, often chaotic settings, with lots of work that's performed manually," said Andrew Smith, founder and CEO of Outrider. "This is why an overarching systems approach – with an autonomous truck at its center – is key to automating every major operation in the yard."

Outrider automates the repetitive, manual aspects of yard operations, including moving trailers around the yard, moving trailers to and from loading docks, hitching and unhitching trailers, connecting and disconnecting trailer brake lines, and monitoring trailer locations. At scale, Outrider will deliver yards that are more efficient, safer, and more sustainable.

Today, Outrider is demonstrating its solution through pilot programs with Georgia-Pacific and four Fortune 200 companies in designated sections of their distribution yards.

"We're constantly looking for ways to transform our company and the way we get work done, especially making work safer and more efficient and productive," said Annant Patel, Vice President of Automation Transformation at Georgia-Pacific. "Yard operations has been one of our opportunities, and Outrider has been a great partner to help us automate our pilot site."

In order to solve the complexities of yard operations, Outrider developed an integrated, three-part system, including management software, autonomous zero-emission yard trucks that feature vision-based robotics, and site infrastructure. The Outrider System integrates with existing supply chain software used by large enterprises.

"Modern distribution yards won't be just autonomous, they'll be electric," continued Smith. "Electric yard trucks are easier to operate and maintain than their diesel counterparts, and they lend themselves to better computer control. Our mission is to work with customers and suppliers to rapidly retire the more than 50,000 diesel-polluting yard trucks currently operating at logistics hubs throughout the U.S."

To develop the safety case for its system, Outrider works with customers and outside experts. It also references existing functional safety standards and is helping define the next-generation standard for Level 4 Autonomy System Design.

"Outrider is introducing the transformational technology required for large, logistics-dependent enterprises to keep pace," said Jake Medwell, Founding Partner at 8VC. "We consider hundreds of investment opportunities in the logistics space every year. Our decision to be an early investor in Outrider was an easy one. Andrew's vision and plan for the industry are highly compelling, and he's mobilized an unmatched team to execute."

Based in Golden, Colorado, Outrider has more than 75 employees including 50 engineers solely focused on distribution yard automation. Combined, engineering project leads have more than 100 years of hands-on experience in ground-vehicle autonomy and robotic automation from organizations and universities, such as Lockheed Martin, iRobot, Tesla, Inc., NVIDIA Corporation, Cruise LLC, Ford Motor Company, General Motors Company, Mercedes-Benz, United States Armed Forces, Carnegie Mellon University, Georgia Institute of Technology, Purdue University, Princeton University, Johns Hopkins University, and Northwestern University.

Outrider is backed by NEA, 8VC, Koch Disruptive Technologies, Fraser McCombs Capital, Prologis, Inc., Schematic Ventures, Loup Ventures, GOOSE Society of Texas, and other top-tier investors.

About Outrider™
Outrider, the pioneer in autonomous yard operations for logistics hubs, helps large enterprises improve safety and increase efficiency. The only company exclusively focused on automating all aspects of yard operations, Outrider eliminates manual tasks that are hazardous and repetitive. Outrider's mission is to drive the rapid adoption of sustainable freight transportation by deploying zero-emission systems. Outrider is a private company backed by NEA, 8VC, and other top-tier investors. For more information, visit outrider.ai at https://hubs.ly/H0n2x9-0.

SOURCE Outrider