Ouster raises $60 Million in Equity & Debt Funding

IOT News

Ouster-raises-60-Million-in-Equity-Debt-Funding Ouster raises $60 Million in Equity & Debt FundingOuster, a San Francisco-based provider of high-resolution lidar (Light Detection and Ranging) sensors used explicitly in autonomous vehicles, robotics, and mapping applications, in a recent press release statement, announced raising over $60 million in funding.

The company, which currently has a roster of over 400 customers, has also announced the opening of a new manufacturing facility. The company, producing hundreds of sensors per month and capable of producing thousands of lidar sensors per month, has also recently appointed Susan Heystee as its board of directors.

The company caters to varying industries from autonomous vehicles to industrial robotics, agriculture, mapping, defense, and drones. Ouster, with its all-semiconductor approach to lidar, claims its 3D sensors are more agile and durable than other available solutions in the market.

Earlier in 2017, the company raised $27 million in Series A capital funding, furthermore, this year the company has landed an additional $60 million in equity and debt funding from Runway Growth Capital and Silicon Valley Bank, along with additional funding from Series A participants Carthona, Cox Enterprises, Constellation Tech Ventures, Fontinalis Partners, and others.

“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. It’s amazing that just a year ago we could count our customers on one hand, and now over 400 engineering teams around the world are using Ouster’s sensors to build new industries and re-shape old ones,” stated Ouster CEO Angus Pacala. “It’s humbling to know that this demand exists – it motivates us every day to deliver for our customers.”