San Francisco based Ouster, a Lidar startup which builds high-resolutions 3D sensors for use in autonomous vehicles, robotics, drones, mapping, mining, the defense has snagged a $60 million Series B financing. The current investment round was led by Runway Growth Capital while a number of companies that included participation from Silicon Valley Bank, Cox Enterprises, Constellation Tech Ventures, Fontinalis Partners, Carthona Capital, and others. Prior to this round, Cox Enterprises had led the Series A funding where it had infused $27 million. Ouster now has raised $90 million in funding.
Ouster was founded by Angus Pacala, and Mark Frichtl 2016. The company offers a unique multi-beam flash lidar design. It also brings Moore's Law to lidar with an all-semiconductor approach to 3D sensing. Pacala talking about how the company is going to use the freshly raised capital said that it will help them in the expansion of its production facilities. The company has close to 200 full-time employees working in across engineering, operations, business development, and marketing.
Commenting further Pacala said, “The momentum we’re seeing in our business is driven by the demand we’re seeing in the market for customers wanting to push the performance frontier. The company has maintained a low profile for over two years — staying heads-down and focusing on getting [products] ready to ship. I’m incredibly proud of our team for their hard work to produce the most advanced, practical, and scalable … the sensor on the market and we’re very excited about the impact our product will have in autonomous vehicles and other applications in robotics.”
In the investment news announcement, the company also announced the appointment of Susan Heystee, senior VP for OEM business at Verizon Connect as one of the boards of directors.
Image Courtesy : AIThority