TruckLabs raises $15 million
TruckLabs, a technology company helping “transform the trucking industry,” has raised a $15 million Series A round to fund the continued growth of its product suite that empowers fleets to improve their operational performance by boosting fuel efficiency, increasing driver engagement, and reducing carbon emissions. The “oversubscribed” funding round was co-led by returning investors Calibrate Ventures, Autotech Ventures, and Uncork Capital. To date, TruckLabs has raised $24 million in funding.
Established in 2014, TruckLabs designs and builds technology for the long-haul trucking industry. Its flagship product, TruckWings, is an aerodynamic device that is installed to close the gap between cab and trailer on large trucks to save fuel. The device is now being used by four of the top 10 trucking companies in North America.
TruckLabs also recently launched its latest innovation – TripDynamics – a gamified software platform for driver engagement, real-time feedback, and performance measurement.
“We are extremely impressed with TruckLabs’ track record of success in product development and go-to-market strategy. The company is well-positioned to take advantage of the growing opportunity to partner with fleets to help them save money and achieve their sustainability goals.” – Jason Schottler, co-founder of Calibrate Ventures.
“TripDynamics changes the game in terms of driver engagement, fuel efficiency, and the overall sustainability of our fleet. In particular, they’ve really nailed the concept of driver engagement. Whether you’re a top driver or just starting out, we all have opportunities to improve through better feedback, but it needs to be against realistic goals. TripDynamics helps level the playing field for our drivers when it comes to our bonus structures and how our drivers adjust what they are doing in the cab to significantly improve overall fuel efficiency.” – Royal Jones, CEO of Mesilla Valley Transportation.
“We are grateful for the support of our investors, who are continuing their journey with us to help transform the trucking industry. These latest milestones demonstrate industry confidence in our technologies and in our strategic plan to accelerate the delivery of our unique value proposition to fleets.” – Daniel Burrows, CEO of TruckLabs.
