LiDAR sensor producer Ouster reported that it has raised US$42 million of new investment to fund product development and further accelerate worldwide sales. After launching its second generation of high-resolution LiDAR sensors in January, Ouster’s 12-month revenue has grown by 62%, with third quarter bookings up 209% YoY.

The company unveiled two new LiDAR sensors earlier this year. By adopting its semiconductor-based technology, Ouster replaces complex legacy analog architecture and enables cost-effective sensing solution.

(Image: Ouster)

Ouster now counts over 800 customers across 15 markets, including Konecranes, Postmates, Ike, May Mobility, Kodiak Robotics, Coast Autonomous, the U.S. Army, NASA, Stanford University, and MIT University, as well as Chinese automation companies idriverplus, WhaleAI, Hongjing Drive, and Qcraft.

In response to strong global demand, Ouster has opened offices in Paris, Hamburg, Frankfurt, Hong Kong, and Suzhou to expand global sales and customer service capabilities. The company has also expanded overseas production of its sensors with Benchmark, a TS16949 certified contract manufacturer, to keep up with growing demand.