Many insiders expect significant consolidation in the LiDAR market in 2019, and many suppliers of the technology are jockeying for position in the rationalizing market. Ouster is one of the companies hoping to survive and thrive, saying it is showing momentum in the business at just the right time, hoping to solidify its position as a leader in the market believing it has the most promising technology for the long term.
After announcing $27 million in Series A capital in December 2017, Ouster has worked with existing investors and new backers to secure an additional $60 million in equity and debt funding. It includes investments from Runway Growth Capital and Silicon Valley Bank, as well as additional funding from Series A participants Cox Enterprises, Constellation Tech Ventures, Fontinalis Partners, and Carthona. The additional investment has helped to develop Ouster’s product lines, including the launch of the OS-1 128 sensor, and fund the expansion of its production facilities.