Orbee Announces $4M Series A Funding from FM Capital
Orbee, Inc., a leading technology service provider for the automotive industry, announced the closing of its oversubscribed Series A financing round, which raised $4.0 million to drive growth of the company’s innovative platform for the auto retailing ecosystem including dealership groups and their technology and service providers.
The round was led by the automotive and transportation venture firm FM Capital, with participation from existing anchor investors Holman Enterprises, Flow Automotive Companies and Pohanka Automotive Group.
Outrider raises $73 million Series C financing to accelerate the adoption of autonomous distribution yard operations
Outrider, the pioneer in autonomous yard operations for logistics hubs, today announced it closed $73 million in Series C financing led by FM Capital. New investors include a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and NVentures, NVIDIA’s venture capital arm. Existing investors participating in the round include Koch Disruptive Technologies (KDT) and New Enterprise Associates (NEA). Outrider has raised $191 million in financing to date based on its technical leadership in autonomous systems for distribution yards.
Outrider will use this funding to expand its proprietary autonomy and safety technology portfolio, increase hiring domestically and internationally, and scale its yard automation solution with large customers in package shipping, retail, eCommerce, consumer packaged goods, grocery, manufacturing, and intermodal industries. Outrider’s customers, representing more than 20% of all yard trucks operating in N. America, have invested in joint product testing and pilot operations since 2019.