Outrider raises $73M to brings its autonomous electric yard trucks into the mainstream

News Summary

  • Workers today use diesel-powered yard trucks to move trailers filled with goods around the yard as well as to and from loading docks.Outrider has developed an autonomous system that includes an electric yard truck, software to manage the operations and site infrastructure.
  • But companies applying the technology to agriculture, commercial and logistics applications are still attracting venture capital.Take Outrider, a Golden, Colorado startup developing autonomous electric yard trucks, for example.Distribution yards are the nerve center of the supply chain.
  • Outrider has 20 autonomous systems in use at customer sites and its test facility as the company finishes the final capabilities and proprietary safety mechanisms of the system, Smith said.These final tweaks to the system will wrap up in 2023, he added.
  • From there the focus will be launching commercial operations with its customers, which includes Georgia Pacific and other unnamed companies that have invested in joint product testing and pilot operations since 2019.
  • Outrider founder and CEO Andrew Smith told TechCrunch that the yard trucks have new hardware designed to handle harsh environments, including robotic arms.
  • Outrider recently closed a $73 million Series C round led by FM Capital and attracted new investors Abu Dhabi Investment Authority and NVIDIA’s venture capital group, NVentures.
Autonomous vehicle technology may no longer be the fuel powering the hype machine. But companies applying the technology to agriculture, commercial and logistics applications are still attracting ven [+2929 chars]