Outrider is a software company automating logistics hubs with electric, self-driving yard trucks with robotic arms. We believe that Outrider’s early lead and specialized focus will enable it to become a foundational player in the future of autonomous logistics.
Nearly all of the ~20 billion tons of US freight moves through a yard at some point on its journey, and Outrider’s solution replaces human-driven diesel yard trucks with robotic electric vehicles.1 Outrider-powered trucks aim to reduce operating costs, reduce emissions from idling diesel trucks, and automate dangerous and repetitive jobs in the yard. Outrider’s customers span a range of industries, such as package shipping, retail and eCommerce, consumer packaged goods, and automotive, collectively accounting for over 20% of all yard trucks operating in North America.2 Yards have gotten little attention from automation efforts that have touched factories and other segments of the supply chain, leaving a greenfield opportunity for Outrider. Further, privately-owned yards should present fewer regulatory hurdles for Outrider to clear vs. companies that are tackling over-the-road trucking on public roads.
Outrider is led by Andrew Smith, the founder of ATDynamics, a company he led to a successful acquisition. Outrider’s nontraditional team also includes talent from various sectors, diverging from the usual Defense Advanced Research Projects Agency (DARPA) and Carnegie Mellon alumni seen in autonomous technology and instead focusing on real-world experience in energy and logistics. This unique team structure provides the company with practical insights and an operational focus essential for scaling a commercially viable autonomous yard operation solution.
Important Information
We offer our view of Outrider because it is part of the total ARK Venture Fund portfolio. To see the most updated portfolio, please click here. Holdings subject to change. Not a recommendation to buy, sell, or hold any specific security.
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https://tripnet.org/wp-content/uploads/2023/12/TRIP_Freight_Report_December_2023.pdf; https://www.youtube.com/watch?v=YIAtQk7Sz9c
https://www.outrider.ai/press-releases/outrider-closes-62-million-series-d-financing-to-drive-growth-of-yard-automation/
ARK’s statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. ARK and its clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that are discussed. Certain of the statements contained may be statements of future expectations and other forward-looking statements that are based on ARK’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements.
