THOMAS LOGISTICS STARTUP
OUTRIGHT ARE ANNOUNCING TODAY,
IT HAS RAISED 65 MILLION
DOLLARS DURING THE SERIES B
FUNDING ROUND.
>> THE STARTUP HAS RAISED A
180 MILLION DOLLARS THIS YEAR
AND SAYS IT IS A POSITION TO
SCALE
AND SUPPORT THE RAPID
AUTOMATION OF DISTRIBUTION
YARDS JOINING US NOW ANDREW
SMITH FOUNDER
AND CEO OUT WRITER AND WELCOME
TO THE SHOW I KNOW IT'S A BUSY
DAY WE REALLY APPRECIATE
YOUR TIME. WHAT PROBLEM IS OUR
RIGHT ARE CONTINUING TO SOLVE
IN THE LOGISTICS BASE WITH
AUTONOMY TODAY.
>> WELL, THANKS SO MUCH FOR
HAVING ME ON THE SHOW THERE'S
OVER 10 BILLION TONS
OF FREIGHT THEY MOVED IN NORTH
AMERICA ALONE, THE MAJORITY
THAT'S BEING MOVED BY TRUCKS
AND THOSE TRUCKS GOING OUT OF
DISTRIBUTION YARDS OF US
ACTUALLY FUNCTION AS THEY HAVE
FOR THE LAST SEVERAL DECADES.
OUTRIDERS
FOCUS ON ON A MEETING ALL
ASPECTS OF DISTRIBUTION TODAY
IF YOU SEE CONGESTION GOING IN
OUT OF A WAREHOUSE THAT'S A
VERY TYPICAL
TRAILERS GET TRAILERS DON'T
SHOW UP AT THE RIGHT LOADING
MET THE ROAD TO THE RIGHT TIME
CREATING DELAYS THROUGHOUT
THE SYSTEM OUTRIDERS SOLVES ALL
THESE ISSUES AND DELIVERS NEXT
LEVELS OF SAFETY AND EFFICIENCY
IN THE SUSTAINABILITY TO THIS
CRITICAL LINK IN THE SUPPLY
CHAIN.
>> BEFORE THE CORONAVIRUS
PANDEMIC YOU GUYS RAISED
53 MILLION DOLLARS IN A SERIES
A FUNDING ROUND TO DEVELOP THIS
AUTONOMY STRUCK TECHNOLOGY.
HOW MUCH IS OUTRIGHT ARE GROWN
SINCE THEN ANDREW.
>> SO SINCE HER LAST
ANNOUNCEMENTS WE'VE GOT BY 50%
OUR HEADCOUNT AND THE
CORONAVIRUS WHEN IT'S BEEN SUCH
A HORRIBLE THING WORLDWIDE IN
SO MANY WAYS IT HAS SHOWN A
CERTAIN AMOUNT OF LIGHT ON THE
SUPPLY CHAIN
AND THE IMPORTANCE OF
RESILIENCE IN THE SUPPLY CHAIN
SO WE'VE HAD IN STRONG INVESTOR
INTEREST. YOU BILL YOU RECRUIT
THE BEST AND BRIGHTEST BECAUSE
WE'RE FOCUSING ON THIS A KEY
ASPECT OF HOW THE ECONOMY KEEPS
RUNNING. IN A PANDEMIC
AFFECTED WORLD.
>> THAT LEADS ME TO MY NEXT
QUESTION WITH IN PERSON
INTERACTION IS LIMITED BECAUSE
OF THE PANDEMIC OF COURSE DO
BELIEVE THESE NEW CONDITIONS.
I MAY BE
ACCELERATING THAT TIMELINE WHEN
IT COMES TO ADOPTING THIS KIND
OF AUTONOMY AS DELIVERY
SOLUTION.
>> YES, ABSOLUTELY THE
PANDEMIC'S HAVING MULTIPLE
EFFECTS ON OUR BUSINESS IN THIS
DEMAND
FOR AUTOMATION SO ONE OF THE
PIECES IS WITH THE PANDEMIC
SHOWED IS THE NEED FOR
RESILIENCY WITHIN THE SUPPLY
CHAIN WHEN THERE'S SURGES AND
DEMANDS OR DROPS IN DEMAND
THAT CREATES ALL SORTS OF CHAOS
IN THE SUPPLY CHAIN HOW YOU
ADJUST RESOURCES TO ADOPT A IT
OUR SYSTEMS ALLOW COMPANIES TO
VERY JUST FOR YOU THOSE PEAKS
OR VALLEYS
AND DEMAND. BUT JUST AS
IMPORTANT. IT'S ALSO HEALTH AND
SAFETY QUESTION FOR THE WORKERS
AND ASSOCIATES WORKING AT OUR
FORTUNE
500 CUSTOMER CLIENTS. I THOSE
INDIVIDUALS THE LESS THEY HAVE
TO INTERACT WITH TOUCHING
THINGS THE BETTER AND THEREFORE
IF YOU HAVE A SYSTEM THAT WITH
THE CLICK OF A BUTTON CAN MOVE
THE 40,000 POUND CONTAINER FROM
ONE SPOT TO ANOTHER THAT
ENHANCES THE SAFETY OF THOSE
PEOPLE WORKING
ON SITE AND THEN I FINALLY JUST
FROM BY A COMPETITIVE
STANDPOINT THESE SYSTEMS.
I ALLOW THE OVERALL SYSTEM TO
WORK MORE EFFICIENTLY FOR THESE
CUSTOMERS.
>> WE'VE SEEN A HANDFUL OF
STARTUPS ENTER THE AUTONOMY
DELIVERY SPACE IN THE LAST FEW
MONTHS PARTICULARLY IN
TRUCKING. I SHOULD SAY THE LAST
FEW YEARS I SEE I FEEL LIKE I
SEE MORE SINCE THE
PANDEMIC STARTED HOW DOES YOUR
COMPANY OUTRIGHT OR DESTROYED
DISTINGUISH ITSELF FROM ITS
COMPETITORS.
>> SO ALL RIGHT IS TRULY UNIQUE
IN THE MARKET AND THAT WE DON'T
JUST AUTOMATED VEHICLE. THERE'S
OBVIOUSLY LOTS OF COMPANIES
AUTOMATING VEHICLES. WE OUGHT
TO MEET AN ENTIRE INTEGRATED
SYSTEM FOR HOW DISTRIBUTION
CENTERS OPERATE. SO THAT MEANS
WE HAVE THE INTERFACE ALLOWING
USERS TO MANAGE MULTIPLE
AUTONOMOUS VEHICLES AND LIKE
THOSE INTO THEIR SUPPLY CHAIN
TECHNOLOGY. WE HAVE THE ACTUAL
AUTONOMOUS VEHICLES THEMSELVES,
BUT THEN WHAT OUR SYSTEM DOES.
IS ALLOW THOSE VEHICLES TO
ROBOTICALLY CONNECT TO AND FROM
TRAILERS BACK UP 53 FOOT LONG
TRAILERS AND
CONGESTED ENVIRONMENT AND DOC
SAFELY TO AND FROM WAREHOUSES,
SO IT'S A TRULY UNIQUE
SYSTEM IN PROVIDES A
PERSPECTIVE ON WHERE TIME IS
GOING TO BRING US REAL VALUE IN
THE
NEAR TERM.
>> HAVE YOU FACED ANY
DISRUPTIONS WITH THEIR SUPPLY
CHAIN ANDREW.
>> LUCKILY NOT SO MUCH
PLANTED SIR WAY TO HELP OTHERS
FACE LESS OF THOSE SUPPLY CHAIN
DISRUPTIONS
GOING FORWARD. NO WE'VE FROM
THE VERY BEGINNING OUR
IMPLEMENTED PRACTICES TO KEEP
OUR WORKERS AND ENGINEERS SAY
AS WE TESTED BILL VEHICLE SO WE
CAN BRING THESE BENEFITS TO
THE MARKET.
>> THAT'S CERTAINLY GOOD NEWS
WHEN IT COMES TO A COMPANY ANY
CHALLENGES THAT YOU GUYS HAVE
YOU KNOW BECOME OVERCOME WITH
SINCE THE PANDEMIC STARTED.
>> SO THE PANDEMIC'S REALLY
INTERESTING AND I THINK IN
GENERAL WE TRY TO LOOK AT THESE
CHALLENGES AS OPPORTUNITIES TO
DO THINGS A LITTLE BIT A LITTLE
BIT DIFFERENT AND LEARN
FROM THOSE. BUT THERE WILL
PIECES OF SYSTEMS THAT TAKE
LONGER TO GET TO OCCUR, BUT IN
GENERAL BECAUSE THERE'S BEEN SO
MUCH FOCUS ON KEEPING THE
SUPPLY CHAIN OPERATING WE FELT
LIKE WE'VE BEEN VERY LUCKY IN
THAT IN THAT WAY AND CERTAINLY
THAT'S SOMETHING THAT HAS
DRIVEN US TO BE ABLE TO RAISE
THESE FUNDS BUILD THE COMPANY'S