Lidar startup Ouster raises $42M in push to grow sales, diversify products – TechCrunch

Lidar startup Ouster has spent the past several years expanding and improving its line of sensors as it jostles for a piece of the crowded and competitive market Now, Ouster says it has raised $42 million, fresh capital that will be used to fund product development and ramp up sales. In shor…

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In January, Ouster launched its second-generation lidar product line, which includes three different 128-beam sensors to be used for different purposes, including one designed for navigating urban environments and warehouses.

Ouster argues that its approach results in a less complex sensor that is more reliable and cheaper. “Ouster’s digital lidar architecture gives us fundamental advantages that are winning over customers in every market we serve.

Once our customers experience the resolution and reliability of these sensors at an affordable price, there’s no turning back to legacy analog lidar,” Ouster CEO Angus Pacala said in a statement.

Ouster wouldn’t share specific revenue numbers, but the company said its 12-month revenue has grown 62%, with third-quarter bookings up 209% year-over-year — a stat that makes sense, considering its business model and the expansion of its product line.

Lidar startup Ouster has spent the past several years expanding and improving its line of sensors as it jostles for a piece of the crowded and competitive market place.

Despite the growth, Ouster needs the capital to scale, as designing, manufacturing and selling lidar sensors is an expensive undertaking.

The company launched in January its second-generation lidar sensors, which included three new 128-beam models that have different applications.

Digital CMOS technology is the future of lidar and Ouster was the first to invent, build, patent, and commercialize digital lidar.

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