Series A led by auto powerhouse Cox Enterprises
Angus Pacala has had a lifelong passion for autonomous cars going all the way back to high school. A little more than a decade ago, he followed the launch of the DARPA Grand Challenge, a Department of Defense competition that pitted research teams against each other over who could build the best autonomous car. Stanford won the challenge in 2005, which is “one of the reasons I went there,” Pacala said.
His freshman year, he met Mark Frichtl, who was similarly interested in autonomous cars. The two took classes and worked on problem sets together, eventually working with each other at Quanergy, which Pacala had co-founded. Now, they are putting their collective talents together in a new venture called Ouster to bring affordable LiDAR sensors to the world.
Ouster today announced a $27 million series A fundraise led by Cox Enterprises, whose Cox Automotive division owns and offers a variety of auto services including the well-known Kelley Blue Book and AutoTrader.com.
Few areas of research are as important to the viability of fully autonomous cars as sensors — the actual physical hardware which evaluates the space around a vehicle and provides the raw data for machine learning algorithms to control the car without a human driver.
While visible light cameras, radar, and infrared sensors have been used by various engineering teams to build a physical map around a vehicle, the key component for nearly all autonomous car platforms is LiDAR. As Devin described on TechCrunch in an overview earlier this year, the technology, which has been around for decades, has become one of the key linchpins to successfully building L4 and L5 fully-autonomous vehicles.
There is just one challenge: essentially only one company makes the technology for production scale — Velodyne, which is based in the Valley. The company announced just a few weeks ago that it is quadrupling production of its main LiDAR product due to demand from autonomous car manufacturers. However, the prices for many of its sensors remain out-of-reach for most consumer applications, with some of the company’s most advanced sensors costing tens of thousands of dollars.
For Pacala, that price barrier has been a major challenge and ultimately gets at the mission of Ouster. “Our long term vision is to push LiDAR from being a research product to being in every consumer automobile,“ he said.
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