U.S. self-driving truck agency Outrider mentioned on Thursday it has raised $73 million in funding to scale up its autonomous vehicles working in distribution yards for patrons in e-commerce, manufacturing and different industries.
The Collection C spherical consists of funding from new buyers together with the Abu Dhabi Funding Authority (ADIA), one of many world’s largest sovereign wealth funds, and the enterprise capital arm of chip designer and computing agency Nvidia Corp.
It additionally consists of contemporary funding from American enterprise capital fund New Enterprise Associates (NEA) and the enterprise capital arm of commercial conglomerate Koch Industries.
Outrider has now raised a complete of $191 million from buyers.
Outrider says its self-driving yard truck “hitches to and unhitches from trailers, robotically connects and disconnects trailer brake strains, backs semi-trailers with precision, interacts safely with loading docks, and retains monitor of trailer areas all through the yard.”
The corporate says its prospects signify greater than 20% of all yard vehicles working in North America, and have invested in joint product testing and pilot operations since 2019. Yard vehicles are designed to maneuver trailers and cargo containers in distribution yards.
Outrider mentioned the funding will even go to additional growing autonomous expertise and hiring workers in america and internationally.
Whereas investor curiosity in startups associated to robotaxi corporations has waned as a result of really self-driving vehicles on metropolis roads are a few years away, corporations providing easier autonomous options in additional restricted environments are nonetheless elevating cash.
Final week self-driving software program startup Oxbotica introduced it had raised $140 million from buyers to hurry the deployment of autonomous autos (AVs) in areas together with heavy trade, ports and airports.
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Sundram Fasteners has drawn up plans to speculate Rs 200 crore to assist the brand new order acquired from the worldwide vehicle producer. The corporate would ship the components from its powertrain divisions positioned at Mahindra World Metropolis in Chengalpattu, Tamil Nadu, and Sri Metropolis, Andhra Pradesh. The components will likely be serviced from the corporate’s warehouse in North America.
Over 4 million four-wheel autos had been bought in India final 12 months, surpassing Japan and coming in behind China and the US. To nudge India’s cost-conscious drivers and in step with the inexperienced hype, automakers launched a slate of glitzy EVs this month on the nation’s largest motor present, India Auto Expo, with promising bulletins from home and overseas producers like China’s BYD Co. and Kia Corp.
