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- Overland AI
Overland AI Funding, Investors & Competitors
Overland AI has raised $122M across 3 funding rounds, most recently a $80M Series B in February 2026.
Last Overland AI funding round
$80M
Series B · Feb 2026
Cumulative funding Overland AI raised
$122M
across 3 funding rounds
Key investors in Overland AI
Shasta Ventures
Point72 Ventures
8VC
Ascend
Overmatch Ventures
Valor Equity Partners
OUP (Osage University Partners)
StepStone Group
About Overland AI
Overland AI is a Pittsburgh-based developer of autonomous navigation software for off-road military and commercial vehicles. The OverDrive stack uses machine learning for GPS-denied terrain navigation, enabling unmanned ground vehicles to traverse unimproved roads and rough landscapes. Overland AI supplies autonomy kits to the U.S. Department of Defense through programs like DARPA's RACER.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Product sales
Overland AI Funding History
Overland AI has raised a total of $122M across 3 funding rounds.
Overland AI's first fundraising round was a $10M seed round in May 2024. The most recent completed round was a $80M Series B in February 2026.
Overland AI funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2026 | Series B | 8VC (lead); Point72 Ventures; StepStone Group; Overmatch Ventures; Valor Equity Partners; Shasta Ventures | $80M | Overland AI is a Seattle-based developer of autonomous ground systems for defense and national security, specializing in unmanned ground vehicles like ULTRA for logistics, reconnaissance, and operations in complex off-road and GPS-denied environments. The company spun out of University of Washington research in 2022, completed the DARPA RACER program, and partners with U.S. Army, Marine Corps, SOCOM units including the 82nd Airborne Division, 1st Cavalry Division, 173rd Airborne Brigade, 36th Engineer Brigade, and 2nd Marine Logistics Group, plus a recent $2 million U.S. Army contract. On February 3, 2026, Overland AI raised $100 million in an equity round led by 8VC, with participation from Point72 Ventures, Ascend Venture Capital (noted in some sources), Shasta Ventures, Overmatch Ventures, new investors Valor Equity Partners and StepStone Group, and other institutions, plus a $20 million venture debt facility from TriplePoint Capital. This follows a prior $42 million raise in January 2025, bringing total funding over $140 million, with the company growing to more than 100 employees. The funding aims to scale manufacturing, field support, operational integration, and deployment of ULTRA to meet accelerating military demand shifting from experimentation to operational use across U.S. forces and allies. Overland's technology allows one human operator to control multiple robotic vehicles over challenging terrain at varying speeds, installable on any vehicle. |
| Jan 2025 | Series A | 8VC (lead); Point72 Ventures; Ascend; Overmatch Ventures; The CAPROCK Group; Osage Venture Partners; Shasta Ventures; OUP (Osage University Partners) | $32M | Overland AI is a Seattle-based autonomous ground systems company developing advanced autonomy for uncrewed ground vehicles (UGVs) focused on defense and national security applications. The company's flagship product, ULTRA, is an autonomous ground vehicle deployed by the U.S. Army, Marine Corps, and Special Operations Command for missions including counter-UAS, ISR, contested logistics and resupply, and breaching. The company also developed OverWatch software, which enables a single operator to manage a fleet of intelligent machines. On January 13, 2025, Overland AI announced a $32 million Series A funding round led by 8VC with participation from Point72 Ventures, Overmatch Ventures, Shasta Ventures, Ascend, Osage University Partners, and Caprock. The funding was allocated toward expanding the team, enhancing software development, and venturing into hardware initiatives. Co-founder and President Stephanie Bonk stated that Series A would meaningfully accelerate the adoption of Overland's ground autonomy capability and investments in making products simpler to use, quicker to field, and easier to integrate into national security operations. Overland AI completed the DARPA RACER program (Robotic Autonomy in Complex Environments with Resiliency) in November 2024 after three years of testing and iterating its platform autonomy. The company has partnered with L3Harris Technologies, a major global defense contractor ranked 10th by defense revenue, on the Diamondback autonomous ground vehicle. Managing partner Joe Lonsdale of 8VC characterized Overland as positioned to become the next significant American defense prime, noting the company has rallied top talent in ground autonomy. As of July 2025, Overland AI had raised $6.2 billion in total funding across multiple rounds. In February 2026, the company secured an additional $100 million funding round led by 8VC to scale operations with end users across the U.S. Armed Forces, with new investors including Valor Equity Partners and StepStone Group, plus a $20 million venture debt facility from TriplePoint Capital. |
| May 2024 | Seed | Point72 Ventures (lead); Ascend; Voyager Capital; Cubit Capital; Pioneer Square Labs; Shasta Ventures | $10M | Overland AI raised $10 million in a seed funding round in May 2024 led by Point72 Ventures, with participation from Shasta Ventures, Ascend VC, Pioneer Square Labs, Voyager Capital, and Cubit Capital. The company develops autonomous ground systems for defense and national security applications. This seed round supported development of autonomous vehicle software for high-risk missions. Overland AI's technology enables navigation of challenging off-road terrain without GPS, allowing one operator to control multiple robotic vehicles. The firm spun out of the University of Washington and focuses on military partnerships, including with the U.S. Army. Subsequent rounds include a $32 million Series A in January 2025 led by 8VC and a $100 million round in February 2026 also led by 8VC to scale its ULTRA unmanned ground vehicle for U.S. Armed Forces units like the Army, Marine Corps, and SOCOM. |
Who has invested in Overland AI?
13 investors have backed Overland AI across its funding rounds, including Shasta Ventures, Point72 Ventures, 8VC, Ascend, Overmatch Ventures and Valor Equity Partners.
Lead investors include 8VC and Point72 Ventures.
Overland AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | May 2024 | ||
| 3 | Participant | May 2024 | ||
| 2 | Participant | May 2024 | ||
| 2 | Lead | Jan 2025 | ||
| 2 | Participant | Jan 2025 | ||
| 1 | Participant | Feb 2026 | ||
| 1 | Participant | May 2024 | ||
| 1 | Participant | May 2024 | ||
| 1 | Participant | Jan 2025 | ||
| 1 | Participant | Feb 2026 | ||
| 1 | Participant | Jan 2025 | ||
This data is available for Pro users. Sign up to see all 13 Overland AI investors. Start Free Trial | ||||
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Start Free TrialOverland AI Competitors
Overland AI competitors include listed companies like UBtech Robotics and Tesla, and private ones like Shield AI, Saronic, Quantum Systems and Mach Industries.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $540M | - | $13B | 23.5x | ||
| Private | $200M | - | $9.3B | 46.3x | ||
| Private | $330M | - | $8B | 24.2x | ||
| Private | - | - | $3.7B | - | ||
| Publicly listed | $298M | ($108M) | $5.1B | 9.5x | ||
| Publicly listed | $95B | $10B | $1.4T | 13.8x |
Overland AI Public Comps
Overland AI is still privately-owned, but its public comps include Tesla, Palantir, GE Aerospace, RTX, Airbus, Rolls-Royce, Boeing, Lockheed Martin, Stryker and General Dynamics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $46B | $11B | 7.3x | 7.0x | 30.2x | 29.1x | |||
| $89B | $15B | 3.3x | 3.1x | 19.7x | 19.4x | |||
| $85B | $11B | 2.1x | 1.9x | 16.0x | 14.3x | |||
| $28B | $11B | 5.5x | 5.2x | 14.8x | 22.4x | |||
| $89B | $7.4B | 2.0x | 1.9x | 24.7x | 37.2x | |||
| $75B | $8.7B | 1.9x | 1.8x | 16.1x | 13.1x | |||
This data is available for Pro users. Sign up to see all Overland AI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Overland AI
| When was Overland AI founded? | Overland AI was founded in 2022. |
| Where is Overland AI headquartered? | Overland AI is headquartered in Seattle, WA, United States. |
| Is Overland AI publicly listed? | No, Overland AI is a private, VC-backed company. |
| How much funding has Overland AI raised? | Overland AI has raised $122M across 3 funding rounds. |
| What was Overland AI's last funding round? | Overland AI's last funding round was a $80M Series B in February 2026, led by 8VC. |
| Who are Overland AI's investors? | Overland AI's investors include Point72 Ventures, Shasta Ventures, Ascend, 8VC, Overmatch Ventures, StepStone Group, Voyager Capital, Cubit Capital, The CAPROCK Group, Valor Equity Partners and 3 others. |
| Which companies are comparable to Overland AI? | Companies comparable to Overland AI include Shield AI, Saronic, Quantum Systems, Mach Industries, UBtech Robotics and Tesla. |
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