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ARK Venture Fund backs Outrider AI in Series D round

EditorFrank DeMatteo
Published 2024-10-24, 09:14 a/m
ARKK
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NEW YORK - ARK Venture Fund has participated in the Series D financing of Outrider AI, a company specializing in autonomous yard operations for logistics hubs. Outrider AI's technology focuses on automating yard logistics, aiming to reduce costs and increase efficiency in the sector.

The investment from ARK Venture Fund, whose details were not disclosed, is part of a broader strategy to support companies leveraging artificial intelligence and automation. Outrider AI's system is designed to manage the movement of trailers and containers in logistics yards, a traditionally labor-intensive process.

The ARK Venture Fund is accessible to a wide range of investors, including unaccredited investors, via platforms like SoFi (NASDAQ:SOFI) and Titan. SoFi allows U.S. self-directed investors to invest with a minimum of $500, offering the option to use a standard brokerage account or an IRA. Similarly, Titan provides its members with access to the ARK Venture Fund.

Moreover, the fund is available to registered investment advisors, family offices, high net worth individuals, and institutional investors through financial services firms such as Fidelity, Pershing, TradePMR, and Hilltop. It may also be accessible through other channels, expanding the potential investor base for ventures like Outrider AI.

The ARK Venture Fund's investment in Outrider AI reflects a growing interest in autonomous technologies within the logistics and transportation industries. While the press release statement did not specify the amount invested or the valuation of Outrider AI following the Series D round, it underscores the potential that investors see in automation to reshape supply chain operations.

This move by ARK Venture Fund is part of a trend where investment funds are increasingly targeting technology companies that offer innovative solutions to traditional industry challenges. Outrider AI's platform represents such innovation in the logistics sector, promising to enhance operational efficiencies through automation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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