logo
logo

Trucklabs Raises $15M Series A To Bring Aerodynamic, Fuel-Saving Device To Millions More Trucks

Oct 06, 2021•almost 4 years ago

Amount Raised

$15 Million

Round Type

series a

Redwood City

Description

TruckLabs, a technology company helping transform the trucking industry, announced today that it 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 total in venture capital funding.

Company Information

Company

Truck Labs

Location

Redwood City, California, United States

About

Established in 2014, TruckLabs (formerly XStream Trucking) is a design and engineering company building technology for the long-haul trucking industry. Its flagship technology, TruckWings™, automatically closes the tractor-trailer gap, reducing a fleet’s fuel bill without requiring additional actions by the driver or any trailer modifications. Founded out of Stanford University, TruckLabs has won awards in several Department of Energy (DOE) competitions including National CleanTech Awards and CalTech’s FLoW competition and Heavy Duty Trucking Top 20 Products of 2019. TruckWings are currently deployed within carrier fleets that average more than 3.5 million miles per week. For more information visit: https://www.trucklabs.com/

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech