TruckLabs, a Redwood City, Calif.-based technology company focused on innovating the trucking industry, raised $15m in Series A funding.
The round was co-led by returning investors Calibrate Ventures, Autotech Ventures, and Uncork Capital.
Led by Daniel Burrows, chief executive officer, TruckLabs provides a product suite that empowers fleets to improve their operational performance by boosting fuel efficiency, increasing driver engagement, and reducing carbon emissions. Its flagship product, TruckWings, is an aerodynamic device that can be quickly installed to close the gap between cab and trailer on large trucks to save fuel. TruckWings are widely deployed across the trucking industry, currently operating on carrier fleets that average more than 3.5 million miles per week. TruckLabs also offers a software platform for trucker engagement and performance measurement.
TripDynamics is a gamified software platform for driver engagement, real-time feedback, and performance measurement that gives fleets the data-driven insights they need to respond to the biggest challenges facing the industry today: fuel efficiency and driver recruitment and retention. MVT is rolling out the system across its entire fleet of 1,300 trucks.
The company, which has raised $24m in venture capital funding to date, intends to use the funds to expand hiring across product, sales, and engineering; invest in ongoing research and development of TripDynamics; and increase TruckWings partnerships with original equipment manufacturers.
FinSMEs
11/10/2021