A freight startup with technology supporting autonomous yard operations for logistics hubs has landed $53 million in venture funding and deployed initial pilots of its system, the firm said today.
Golden, Colorado-based Outrider has been operating in “stealth mode” for two years as it honed its technology, which it says will make freight yards more efficient, safer, and more sustainable.
Previously known as Azevtec, the firm now has now gone public, thanks to a seed round of funding from NEA and a “series A” round from 8VC. Additional backing comes from Koch Disruptive Technologies, Fraser McCombs Capital, Prologis, Schematic Ventures, Loup Ventures, and Goose Society of Texas.
Outrider’s system automates the “repetitive, manual aspects of yard operations,” including moving trailers around the yard, moving trailers to and from loading docks, hitching and unhitching trailers, connecting and disconnecting trailer brake lines, and monitoring trailer locations.