$10 million in seed investment was secured by Overland AI, a Seattle, WA-based business that focuses on off-road ground vehicle autonomy for the military.
Investors
- Point72 Ventures
- Voyager Capital
- Shasta Ventures
- Ascend VC
- Pioneer Square Labs
- Cubit Capital
Use of funds
The money will be used by the business to increase operations, development, and testing of its OverDrive software.
About Overland AI
Overland AI, under the direction of CEO Byron Boots, is an autonomous ground mobility specialist for challenging and disputed off-road terrain. With its vehicle-independent OverDrive software, off-road terrain may be autonomously navigated at up to 45 mph in any kind of weather.
A $18.6 million ceiling prototype Other Transaction (OT) deal was recently granted to the business by the U.S. Army and Defense Innovation Unit (DIU) for the adaptation of OverDrive technology to operate autonomous vehicles capable of navigating complicated terrain in disputed locations. Furthermore, Overland AI was just chosen to participate in Phase II of the DARPA RACER initiative, which will allow it to carry out further capability development and OverDrive demonstration in terrain that is important to operations. In the demos, OverDrive is integrated into big tracked platforms that are sized similarly to both the current lightweight wheeled vehicles and future robotic and optionally manned combat/fighting vehicles.
