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Ouster announces additional $60M funding

Ouster, a known provider of high-resolution lidar sensors used for autonomous vehicles, robotics, and mapping has announced the addition of over $60 million in funding.

After announcing $27M in Series A capital in December of 2017, Ouster has worked with existing investors and new backers to secure additional funding to accelerate its expansion into new industries and geographic markets and rapid pace of technology development.

The additional $60M in equity and debt funding includes investments from Runway Growth Capital and Silicon Valley Bank, as well as additional funding from Series A participants Cox Enterprises, Constellation Tech Ventures, Fontinalis Partners, Carthona, and others.

The additional investment will be used to develop Ouster’s product lines, including the launch of the OS-1-128 lidar sensor, and fund the expansion of its production facilities.

The company also announced the opening of a new manufacturing facility at its headquarters in San Francisco. The facility includes space for nearly a hundred manufacturing staff, reliability and quality assurance equipment, and sensor calibration that is included with every sensor.

The manufacturing facility will have the capacity to assemble, calibrate, and ship several thousand sensors per month toward the end of 2019, according to the company. There were some other announcements also made regarding an expansion of customer base and changes in the management.

Source: Press Release

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