Outrider
Overview
Outrider is a technology company specializing in autonomous yard operations for logistics hubs. Founded in 2017 by Andrew Smith, the company is headquartered in Golden, Colorado. As of October 2024, Outrider has raised over $250 million in capital, including its latest Series D financing of $62 million. The company focuses on automating yard operations using electric, autonomous trucks to enhance safety, efficiency, and sustainability in freight transportation.
Recent Developments
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October 2024: Outrider announced a $62 million Series D funding round to scale its autonomous yard operations for Fortune 500 logistics hubs. This latest round was led by Koch Disruptive Technologies and New Enterprise Associates, with contributions from several other venture capital firms. The new capital will help Outrider expand its technology and increase its market presence across multiple industries.
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2024 Product Deployment: The company plans to scale its autonomous systems significantly in 2025, aiming to deploy hundreds of systems with key customers. Outrider focuses on enhancing logistics efficiency in sectors such as package shipping, eCommerce, and automotive.
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February 2024: Outrider prepared to ship its commercial system to major Fortune 500 companies. The system features autonomous electric yard trucks supported by AI-driven technologies that aid in trailer movements and logistics.
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Technology Achievements: Outrider has successfully completed over 100,000 autonomous trailer moves, showcasing its technological capabilities. The system includes a patented robotic arm for trailer connections, emphasizing safety and efficiency improvements in yard operations.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | Golden, Colorado, USA |
| Founders | Andrew Smith |
| Revenue | N/A |
| Profits | N/A |
| Key Investors | Koch Disruptive Technologies, NEA, NVentures, Prologis Ventures |
| Industry | Autonomous Logistics, Robotics |
| Number of Employees | Approximately 200 |
Early History
Outrider was founded in 2017 as Azevtec before it rebranded. The company's core mission has been to transform yard operations by integrating cutting-edge robotics and autonomous technology. With an initial focus on electric vehicles, Outrider aimed to address the bottlenecks in logistics hubs, offering zero-emission solutions. The founder, Andrew Smith, envisioned a system that could maintain high safety standards while boosting efficiency in freight movement.
Company Profile and Achievements
Outrider's business model emphasizes the automation of yard operations, focusing primarily on replacing manual yard trucks with advanced, autonomous electric vehicles. Over the years, Outrider has achieved several milestones and established a strong market presence:
- Funding Milestones: The company has raised significant capital to bolster its technology and operational capabilities, including $53 million in 2020 and $73 million in a Series C round in 2023.
- Patent Portfolio: Outrider holds a robust portfolio of patents related to automated vehicle technologies, particularly in trailer hitching and yard navigation systems.
- System Deployment: Outrider successfully deployed autonomous systems with major clients, including Fortune 500 companies, validating its technology in real-world scenarios.
- Safety and Sustainability: By focusing on electric trucks, Outrider's solutions help reduce carbon emissions and enhance safety through automation.
- Partnerships: Collaborations with companies like NVIDIA have allowed Outrider to integrate AI technologies, enhancing its autonomous systems' efficiency and reliability.
Current Operations and Market Position
Outrider continues to lead in the niche market of autonomous yard operations. With a strong focus on sustainability and safety, the company has positioned itself as a key player in logistics automation, currently capturing a substantial market share in North America. Outrider's competitive edge lies in its integrated system approach, combining zero-emission trucks with advanced autonomous driving technology. Its strategic initiatives include expanding into intermodal rail and port terminal operations, broadening its impact across various freight sectors.
Outrider Careers
Outrider offers numerous career opportunities across diverse fields such as engineering, robotics, and cloud computing. The company emphasizes fostering a collaborative and innovative work environment, focusing on solving complex problems in autonomous logistics.
Outrider Autonomous
Outrider's autonomous technology is central to its business model, providing logistics hubs with full automation of yard operations. This includes precise trailer movements and the integration of AI for seamless operational efficiency.
Outrider Funding
Outrider has demonstrated robust financial growth, successfully completing several funding rounds. The latest Series D round will support technological advancements and market expansion efforts, ensuring its leadership position in yard automation.
Conclusion
Outrider is pioneering the future of logistics through its autonomous yard operations. With a commitment to sustainability and innovation, the company is poised to revolutionize freight operations, providing safer and more efficient logistics solutions. As Outrider scales its operations and expands its market reach, it remains an influential player in transforming the global supply chain landscape.