b'C O N T I N U E D - D I G I T A L T R A N S F O R M A T I O N & N E W T E C H N O L O G Y Presidio Ventures Invests in Outrider for Expansionof Autonomous Yard Truck TechnologiesA Series C financing led by FM Capital in January of s the pioneer in autonomous yard operations for logisticshubs, Outrider announced it closed a $73 million inthis year, bringing its total raised to $191 million. New investors include Presidio Ventures, the venture capital arm of Sumitomo Corporation; a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA); and NVentures, NVIDIAs venture capital arm. Existing investors participating in the round include Koch Disruptive Technologies (KDT), Prologis Venturesand New Enterprise Associates (NEA). Trucking moves over 20 billion tons of freight each year, andis able to solve the human resources shortage in logistics and almost all of it passes through distribution yards. While they aremanufacturing industries which might connect with Sumitomos critical links in the supply chain, todays yards still run largely thecustomers. And the Outrider business policy for electrification will way they have for decadesfilled with repetitive, manual tasksresult in realizing carbon neutrality in the near future in various performed in often inhospitable and potentially hazardous con- terminal operation locations which is a great solution to reduce ditions. These yards are difficult to staff and create bottlenecksgreenhouse gases. Sumitomo promotes Outriders technology in in the supply chain. By automating yard operations, logistics-de- order to solve our customers pains in their operation.pendent enterprises will increase the time freight spends movingOutrider has consistently delivered breakthrough technology to down the highway, address labor shortages, and allow moreautomate one of the most inefficient links in the supply chainpeople to work in safer environments. the distribution yard, said Andrew Smith, CEO and Founder of SCOA Logistics Group General Manager Hiroshi Ocean Takaya- Outrider. Our customers will move massive quantities of freight ma felt that Outrider was the right fit right now because themore efficiently, safely, and sustainably using Outriders technol-technology can connect to solutions on a grander scale.ogy. We are thrilled to have an outstanding network of inves-Outriders technology may fit to our business developmenttors who share our vision to set a new standard for the global direction in its relation to solving social issues and problems inlogistics industry.certain industries, Takayama said. Autonomous technology 8 visions Spring 2023'