A German vendor of autonomous, electric trucking technology has raised $31 million in venture funding to scale up its operations with existing and new customers globally and to boost development of its “human-assisted autonomy” approach, Fernride GmbH said today.
According to Fernride, autonomous trucking could help address logistics industry challenges like a truck driver shortage, growing CO2 emissions, and tight profit margins. The company is now focused on the $25 billion yard trucking sector in Europe and North America, saying its current customers operate more than 1,000 yard trucks in Europe alone
"As we are deeply transforming how the logistics industry is operating, it is crucial to partner with some of the industry's leading players. The strategic investments included in our Series A will help accelerate this transformation," Fernride CEO and Co-Founder Hendrik Kramer said in a release. "Our customers benefit from our human-assisted approach to autonomy from the very start of our collaboration."
The “series A” round was funded by venture capital firms 10x Founders, Promus Ventures, Fly Ventures, Speedinvest, and Push Ventures along with corporate investors, such as HHLA Next, DB Schenker via Schenker Ventures, and Krone.