System looks to improve efficiency and safety through autonomous electric vehicles for freight transfer between public roads and warehouses.
A startup called Outrider emerged from stealth today, announcing it raised $53 million in funding for its autonomous yard operations system, aimed at helping logistics hubs and warehouses with outdoor vehicle operations. The seed and Series A funding rounds were led by NEA and 8VC, respectively.
Formerly known as Azevtec, Outrider’s goal is to help distribution yards keep semi-trailers full of freight moving quickly in the space between warehouse doors and public roads. The company said many of the processes that make up yard operations are manual, inefficient, and hazardous.
“While there’s been lots of automation in other aspects of the supply chain, what happens in yard operations is almost entirely manual and inefficient,” said Andrew Smith, CEO and founder of Outrider. “So we are laser-focused on autonomous yard operations and the movement of that freight.”