Overland AI, a Seattle-based pioneer in off-road ground vehicle autonomy for the defense sector, secures $10million in seed funding, led by Point72 Ventures with participation from Shasta Ventures, Ascend VC, Pioneer Square Labs,Voyager Capital, and Cubit Capital.
In addition to fueling Overland AI’s plans to increase its workforce — with a focus on hiring top engineering talent — the financing will support expanded development and testing of the company’s OverDrive software, a vehicle-agnostic solution that enables autonomous navigation of off-road terrain in any environmental conditions at speeds up to 45 mph.
The technology is poised to meet a growing demand for autonomous off-road capabilities — particularly in the defense sector, where emerging innovations are accelerating the pace of advanced robotics adoption to enhance safety in the field.
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The U.S. Army and Defense Innovation Unit (DIU) recently awarded a $18.6million ceiling prototype Other Transaction (OT) agreement to Overland AI to adapt its OverDrive technology to drive autonomous vehicles capable of traversing complex terrain in contested areas.
In addition, Overland AI was recently selected as a performer on Phase II of the DARPA RACER program to continue advanced capability development and demonstration of OverDrive in operationally-relevant terrain. The demonstrations feature OverDrive integrated into heavy tracked platforms similar in size to forthcoming robotic and optionally manned combat/fighting vehicles, and the lightweight wheeled vehicles already in use.
Byron Boots, co-founder and CEO of Overland AI said, “We are committed to the advancement of ground vehicle autonomy to support national security and minimize risk to our warfighters, With this funding, we can accelerate development and create high-performance ground autonomy software designed for uncrewed vehicles in any contested terrain.”
About Overland AI
Overland AI is the world leader in autonomous ground mobility for complex and contested off-road environments. Founded in 2022 and headquartered in Seattle, Washington, Overland AI boasts an expert team with decades of experience in machine learning, robotics, and autonomous systems.
