Connected and Autonomous Vehicles:
Overland AI Secures $10 Million in Funding
Overland AI has secured $10 million in seed funding, led by Point72 Ventures with participation from Shasta Ventures, Ascend VC, Pioneer Square Labs, Voyager Capital, and Cubit Capital. Overland AI’s plans to increase its workforce and increase development and testing of the company’s OverDrive software.
OverDrive enables autonomous navigation of off-road terrain in any environmental conditions at speeds up to 45 mph, the company said. The U.S. Army and Defense Innovation Unit (DIU) recently awarded a $18.6 million ceiling prototype Other Transaction (OT) agreement to Overland AI to adapt its OverDrive technology to drive autonomous vehicles in contested areas/rough terrain, the company said.
Contact: Kristen Hoff, for Overland AI, (888) 317-4687, ext. 702, kristen@firecrackerpr.com.
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