Today, companies applying autonomous vehicle technology to agriculture, commercial and logistics applications are still attracting venture capital. This is likely due to the numerous benefits that the technology can provide. For example, autonomous vehicles can help farmers optimize their farming practices while also reducing fuel costs and environmental impact. Additionally, autonomous vehicles may be particularly well-suited for large cargo loads and long distances. This means that companies using this technology may be able to reduce costs and improve efficiency in a variety of industries.
A few years ago, there was a huge push to develop self-driving cars. However, this rapidly changed when it became evident that the technology was still in its early stages and had a lot of kinks to work out. So now, instead of self-driving cars, startups are focused on developing autonomous yard trucks. Take Outrider, for example. This startup is
Distribution yards are a critical part of the supply chain. The workers who operate these yards use diesel-powered yard trucks to move trailers filled with goods around the yard as well as to and from loading docks. This process is essential for ensuring that goods make their way from long-haul trucks to warehouses, and finally, to consumers.
While the autonomous Outrider system has some benefits, it’s still not perfect. There are times when the human operators must intervene to correct mistakes or to provide additional support. In the long term, however, autonomous systems like this will soon take over many of the tasks associated with trucking operations. This shift will be good for both truckers and shippers – fewer accidents and less wear and tear on equipment will mean happier drivers and cheaper cargo transportation.
With the potential for such a high return on investment, investors are placing their bets on Outrider’s distribution system. The company has raised over $73 million in funding to date, and new investors have included Abu Dhabi Investment Authority and NVIDIA’s venture capital group, NVentures. With its platform designed to improve efficiency in the distribution sector, Outrider is optimistic about its future prospects.
Outrider is a Silicon Valley-based provider of machine learning and artificial intelligence services. The company has raised $191 million in funding since its founding in 2017, most recently a $60 million Series C round led by Mayfield Fund. Outrider’s platform employs preventative and predictive analytics to help businesses automate decision-making processes,
The robotic arms are not just for moving materials in harsh environments- they can be used to build items as well. Outrider has plans to develop this capability even further, potentially making it one of the company’s most valuable assets. With so many autonomous systems in use and the hardware ready for final testing, Outrider looks primed for continued growth and success in the coming years.
As Outrider nears commercial operations and its customers, the company is looking to expand its reach even further. Outrider has partnered with Georgia Pacific, a major player in the industry, to help test and launch commercial operations. Other unnamed companies are also invested in joint product testing and pilot operations.
The new funds will be used to further invest in the automation of the drug development process in hopes of speeding up the process and ultimately getting products to consumers more quickly.
The development of the Outrider autonomous vehicle software is progressing quickly, and the team is close to finalizing the productization of the system. This will allow for thousands of Outrider-enabled vehicles to be operated throughout various industries in a harsh environment over the next few years.
