Outrider, a startup focused on autonomous yard operations for logistics hubs, emerged from stealth today with $53 million in funding led by NEA and 8VC.
Previously Azevtec, the Golden, Colorado-based company has the ambitious goal of changing the way Fortune 500 companies “move products from the warehouse door to the road.” It has been quietly operating and working on its technology since June 2017. Outrider raised an $8.5 million seed round, led by NEA, in June 2018, and then a $44.5 million Series A led by 8VC in April 2019. Other investors include Koch Disruptive Technologies, Fraser McCombs Capital, Prologis, Schematic Ventures, Loup Venture and the Goose Society of Texas.
Andrew Smith founded Outrider, which essentially seeks to automate every aspect of logistics yards such as moving trailers around the yard, hitching and unhitching, connecting and disconnecting brake lines, and identifying and managing trailer locations.