If you’ve ever seen or ridden in a self-driving car, you may have noticed sensors placed on top of or below the vehicle. Light detection and ranging sensors (LiDAR) allow the vehicle to “see” by sending out thousands of laser pulses that are used to measure the distance between your vehicle and everything in its surrounding area.
San Francisco-based startup Ouster is creating LiDAR sensors for use in the automated transportation, robotics and smart infrastructure industries. The startup announced on Tuesday that it raised $42 million in Series B financing to further product development and accelerate global expansion.
“Digital CMOS technology is the future of lidar and [we were] the first to invent, build, patent, and commercialize digital lidar,” Angus Pacala, CEO of Ouster, said in a statement. “Once our customers experience the resolution and reliability of these sensors at an affordable price, there’s no turning back to legacy analog lidar.”
Ouster launched its second generation of LiDAR sensors in January. The first of the three models is an ultra-wide view sensor that can be used for navigating urban environments and warehouses. The second model is a mid-range sensor with a 120-meter range and a 45 degree field of view. Finally, it released a long-range sensor with a 200-plus meter range for high-speed vehicle automation.
Since launching its second generation of sensors, Ouster’s 12-month revenue grew by 62 percent with third-quarter bookings up 209 percent year-over-year, according to the company.
Ouster’s varied list of clients include food delivery platform Postmates, automated vehicle startup Coast Autonomous, and government agencies like NASA and the United States Army. Ouster works with over 800 clients across 15 different markets.
Ike, an automated trucking technology company, uses Ouster’s LiDAR technology to help keep its drivers safe on the road.
“The digital lidar design provides us unmatched resolution to see in a truck’s blind spots and outstanding reliability to endure extended use on Class 8 trucks,” Nancy Sun, co-founder and chief engineer of Ike, said in a statement.
Ouster, founded in 2016, has raised $140 million in funding to date, according to the company. In addition to its headquarters in San Francisco, the company has offices in Paris, Hamburg, Frankfurt and Hong Kong.
