Outrider, a provider of autonomous yard operations for logistics centers, announced that the company has raised $62 million in an oversubscribed Series D funding round. Led by Koch Disruptive Technologies (KDT) and New Enterprise Associates (NEA), additional investments came from 8VC, ARK Invest, B37 Ventures, FM Capital, Interwoven Ventures, NVentures (the venture capital arm of NVIDIA), and Prologis Ventures.

According to Outrider, this funding will drive the commercial scaling of their autonomous construction site operations as a service. This will happen in 2025 with Fortune 500 customers, which Outrider believes will solidify its position at the forefront of logistics automation.

Other investors joining the Series D funding are Goose Capital; Lineage Ventures, the investment strategy of Lineage, Inc.; Presidio Ventures, the venture capital arm of Sumitomo Corporation; and Service Provider Capital.

Outrider has raised $250 million in equity capital to date.

Since Outrider secured $73 million in Series C funding in 2022, Outrider has completed new and expanded deployments, expanded its technical team, and launched revolutionary AI and deep learning capabilities for security and system performance.

Productivity

“By automating jobsite operations, Outrider enables supply chain workers to maximize throughput and facility safety while minimizing their exposure to repetitive manual tasks performed in hazardous environments,” said Andrew Smith, founder and CEO of Outrider. “This latest financing strengthens our ability to set the highest operational standards in logistics and deliver unparalleled value to our customers and their employees. Our global team of top talent is proud to have created this industry and will continue to lead the way for years to come.

During our interview, Mr. Smith highlighted Outrider’s safety assessment approach, saying: “Our team has assessed 200,000 potential safety risks specific to autonomous construction site operations through close collaboration with third-party security experts and customers. Several road and industrial autonomy standards have driven the process, including UL4600. This is a huge security effort, one that has given our customers confidence and will set future industry standards. »

Additionally, the system’s intelligence reaches a new level compared to the first generation of autonomous construction tractors several years ago, with Smith noting that “our AI is second to none and will continue to grow in behavioral capability.” efficient vehicles. manage various obstacles and actors in distribution yard environments.

Outrider targets package shipping, retail and e-commerce, consumer packaged goods and automotive. Since 2019, Outrider customers, which represent more than 20% of all yard trucks operating in North America, have been actively involved in product testing and pilot deployments.

“Outrider’s cutting-edge technology approach, commitment to safety and strong intellectual property portfolio make it a standout player in autonomous jobsite operations,” said Byron Knight, president of Koch Disruptive Technologies. “We are excited to support their continued growth as they revolutionize supply chain efficiency globally.” »

While product scaling to 2025 currently focuses on distribution center applications, Outrider said its technology is also well suited for use in intermodal rail and port terminals, leading the way for future applications in a wider range of freight transport. This versatility, coupled with an electric construction truck platform strategy, positions Outrider to play an important role in modernizing multiple facets of the global supply chain.

Innovation

With this new capital, Outrider will be able to scale to hundreds of systems with key customers while addressing additional use cases. The company believes that this investment will further strengthen Outrider’s position in the market, while increasing the protection of its patented innovations. “Outrider’s proprietary security systems; coherent and predictable movement in complex and chaotic environments; and a patented robotic arm-based system for trailer overhead and power line connections have allowed us to stay ahead of any competition,” said Ira Renfrew, Chief Product Officer at Outrider.

To date, Outrider’s technological achievements have been validated by more than 100,000 autonomous trailer moves across its customer deployments and test site.

Trailer Connect: knotty but essential

Autonomy is difficult, whatever the setting. Outrider’s autonomous yard trucks must understand the environment and drive safely and efficiently to accomplish their work.

But it doesn’t stop there. Tractor-trailer combinations are the backbone of the trucking industry and must be attached and detached from each other. If you’re a truck driver, the worst part of your day might be backing up to a trailer to hook up mechanically, then exiting the cab to struggle with multiple air hoses and electrical connections.

Beyond personal comfort, there is the propensity for arguments during trailer hookup to result in personal injury to drivers, especially when conditions are difficult at the end of a shift.

An over-the-road truck driver may connect and disconnect a trailer once or twice a day. For a yard truck operator, imagine performing connecting stunts with a trailer every few minutes. Add to this the dangers of operating in the dark or in bad weather and the risk of injury increases significantly. Companies operating these facilities are exposed to significant liability and workers’ compensation claims.

To meet this need, some construction automation players have developed an automated trailer connection process: a robotic manipulator capable of finding, grabbing and connecting air hoses and electrical cables. Outrider was the first to implement such a robotic arm. Based on extensive customer testing, their system has evolved over several generations to now be fast and reliable, according to the company.

From technology to market

How to buy your own fleet of autonomous construction trucks? CEO Smith highlighted that Outrider has agreements with major construction tractor manufacturers to integrate autonomy hardware into production construction tractors. It’s an “Outrider inside” approach with Outrider software and AI powering next-generation construction tractors.

Outrider’s technology is platform agnostic, providing autonomy capability on EV and ICE powered vehicles.

A job well suited to eager robots

The oft-cited rationale for autonomy is to relieve human workers of dirty, boring, and/or dangerous tasks. Yard truck automation fits the bill.

Disclaimer: Richard Bishop previously advised Outrider and has equity in the company.