TLDR:
- Overland AI, a company specializing in off-road ground vehicle autonomy for the defense sector, raised $10M in seed funding.
- The funding round was led by Point72 Ventures with participation from other venture capital firms.
Overland AI, based in Seattle, raised $10M in seed funding to expand its operations and development efforts for its OverDrive software. This software enables autonomous navigation of off-road terrain in any environmental conditions at speeds up to 45 mph. The company, led by CEO Byron Boots, focuses on autonomous ground mobility for complex and contested off-road environments.
The U.S. Army and Defense Innovation Unit (DIU) awarded a $18.6 million ceiling prototype Other Transaction agreement to Overland AI to adapt its OverDrive technology for autonomous vehicles in complex terrain. The company was also selected as a performer in Phase II of the DARPA RACER program to continue advanced capability development and demonstration of OverDrive in operationally relevant terrain. This includes integrating OverDrive into heavy tracked platforms and lightweight wheeled vehicles.
Overall, the funding will support Overland AI’s efforts to further develop and deploy its autonomous ground vehicle technology for defense applications.
