Self-driving technology developer Outrider has raised $73 million in a new funding round.
Outrider, which makes an autonomous system designed for truck yard operations, plans to use the funds from the series C round to add to its suite of autonomous and safety technology products. It will hire more workers domestically and abroad.
The funding round allows Outrider, which is headquartered in Golden, Colo., to serve customers across the large package shipping, retail, e-commerce, consumer packaged goods, grocery, manufacturing and intermodal segments of the freight industry.
The new funding will accelerate the company's work with EV yard truck manufacturers, Outrider said.
Outrider's series C funding round was led by FM Capital, in Boulder, Colo., which has a track record of investing in automotive and transportation startups.
"Outrider has addressed all the pieces — technology, safety, operations and support — needed to deploy a reliable, industrial-grade system at scale," FM Capital Managing Partner Mark Norman said. "The company is a case study in bringing advanced robotics and autonomy technology to market."
Other notable investors include the Abu Dhabi Investment Authority and NVenture, Nvidia's venture capital arm.