Peloton Technology, a Mountain View, CA-based developer of vehicle systems that deliver advanced safety, fuel savings and analytics to trucking fleets, received an investment from Nokia Growth Partners (NGP).
The amount of the deal was not disclosed.
The investment will accelerate the company’s development and deployment of truck platooning technology into the U.S. and international trucking industries.
Led by CEO Josh Switkes, Peloton provides the Peloton Truck Platooning System, a vehicle automation technology that electronically couples pairs of trucks through a combination of vehicle-to-vehicle communications, radar-based active braking systems and proprietary vehicle-control algorithms. The direct communication link between the two trucks enables the rear truck to automatically react to acceleration or braking by the front truck nearly instantaneously.
The company’s cloud-based Network Operations Center continuously monitors individual truck safety and approves the linking of pairs of trucks only on suitable roads under appropriate weather, vehicle and traffic conditions. Drivers retain steering control and command of their vehicles at all times.
To date, the Peloton system has logged more than 14,000 platooning miles and been showcased in on-highway demonstrations, government, private and fleet tests in Nevada, Utah, Texas, Ohio, Florida and Michigan. Additional demonstrations and fleet trials are planned for 2015 and 2016.