Trucksters plans long-distance transport with electric trucks
With the help of AI and Big Data, Trucksters aims to revolutionize long-distance transportation. To expand its offerings, the Spanish transport company has now launched another investment round and raised 33 million in fresh capital. Both new and already known investors participated.
The capital is intended to serve to realize some of the strategic goals, Trucksters announces. The company plans to begin electrifying a first route with e-trucks later this year. This would make it the first company in Europe to transport goods over electrified long distances. In addition, the investments will support other key areas of the company. These include expanding and strengthening the IT and management teams as well as opening additional international corridors. The working conditions of drivers will be further improved while being coupled with efficient transport solutions for customers.
For the current funding round, Trucksters was able to attract Continental’s Corporate Venture Capital Unit, Volvo Group Venture Capital, the European Investment Bank (EIB), and FondICO for the first time. The EIB’s financing is part of the European InvestEU program, which promotes investments to support the EU’s political priorities. In this case, these priorities are “innovation, digitization, and human capital,” core values upon which Trucksters' business model is built.
Trucksters considers the renewed participation of existing investors as a vote of confidence. Accordingly, the round was again supported by Kibo Ventures, the German logistics fund Amplifier VC, The Valley VC, Bonsai Partners, and the funds Big Sur Ventures and Metavallon VC. Sacha Michaud, co-founder of Glovo and member of the board as Non-Executive Chairman, also invests in this round.
Continental’s Corporate Venture Capital Unit, the investment arm of the German tire and vehicle component manufacturer, is participating for the first time, which CEO Jürgen Bilo explained by stating that the investment in Trucksters is in line with Continental’s vision of mobility, which includes innovative data-driven fleet management solutions, ensures operational efficiency, and promotes sustainable growth.
"Besides the excellent team and strong business model, we are convinced that Trucksters' solution will revolutionize fleet management and shape the future of transportation."
For Volvo Group Venture Capital, also a new investor, President Martin Witt commented:
"We are impressed by what Trucksters has achieved and see that the Volvo Group can create significant strategic value for the development of the company. Given the growing demand in freight transport, relay systems can provide a solid structure for the electrification of long-haul routes as well as for autonomous solutions in the future."
Ricardo Mourinho Félix, Vice President of the European Investment Bank (EIB), which Trucksters was also able to win for the new investment round, emphasized:
"We are pleased to collaborate with Trucksters within the framework of this project supported by InvestEU, which helps accelerate the transition to sustainable, efficient, and innovative transportation models. As the Climate Bank, we at the EIB support initiatives to decarbonize transport in line with our financing policy for this sector. This operation also promotes digital transformation in Spain and the EU."
Luis Bardají, co-founder and CEO of Trucksters, is delighted with the highly successful financing round from his perspective:
"When we founded Trucksters, we never imagined that within just a few years we would formalize a partnership like the one we have just signed with Volvo and Continental. Having them as our shareholders is a dream: safety, focusing on drivers, sustainability, and electrification are the elements that led us to establish Trucksters, and they are also the hallmarks of both companies. We can learn a lot from what they have already created, and we look forward to starting this new phase together."
300 Percent Growth: 30 Million Euro Revenue Achieved
Trucksters already raised 14.3 million euros in a Series A round last March. The company recorded record revenues of 30 million euros in 2022, an increase of 300 percent compared to 2021. In its operations, the company has focused on large customers with high growth capacity. Trucksters promises them fast and reliable solutions, such as expanding their fleet to meet higher demand. Thus, the scale-up managed to triple its fleet in 2022, overcoming challenges like the severe driver shortage in the industry.
Trucksters is present in Spain, Belgium, Germany, and Poland, and operates in seven countries: the Netherlands, Germany, Belgium, Poland, the United Kingdom, France, and Spain. Since 2020, the company has been running routes between Europe and Spain using its truck relay system based on Big Data and artificial intelligence. The company operates like an airline over four main corridors: Central and Northern Spain connected to Dortmund, the Spanish Levante connected to the Benelux countries and Western Germany, the Levante connected to Poland, and the latest opening this year, the new corridor for Central Spain connected to the United Kingdom. This is the first Trucksters corridor outside the EU. It connects Northern Spain with the United Kingdom in 28 to 34 hours, which is faster than the usual transport times.
100 Percent Electrified Long-Distance Routes by 2023
The company aims for zero emissions in long-distance transport and plans to run one of the first long-distance road transports with electric trucks by the end of 2023. The deployment of several electric trucks will begin shortly, according to the announcement. Throughout the year, the number of electric trucks will be gradually increased. By the end of 2023, the transport service provider aims to run at least one of its routes 100 percent electrically.
Improving Working Conditions for Truck Drivers
Trucksters' relay system allows drivers to sleep at home more often, as the professionals only drive segments of a longer route and swap trailers at designated relay points with another truck to carry the goods in the opposite direction. This not only improves the quality of life for drivers but also makes transport services, at least according to the company's statement, more cost-effective and almost twice as fast as usual.
Translated automatically from German.Elektromobilität , Newsletter Elektromobilität , IAA Mobility , SUVs und Geländewagen , Hybrid , Antriebsarten, Kraftstoffe und Emissionen , Oberklasse- und Sportwagen , Carsharing , Autonomes Fahren (Straßenverkehr) , Ladeinfrastruktur , Verkehrspolitik , Formel E , Brennstoffzellen , Fahrzeug-Vernetzung und -Kommunikation , Fahrzeuge & Fuhrpark , Automotive-Messen & Veranstaltungen , Pkw, Kompakt- und Mittelklasse , Minis und Kleinwagen , E-Auto-Datenbank, E-Mobilität-/Automotive-Newsletter, E-Auto-Tests