Thursday, April 6, 2017

Peloton Nears $60M For Self Driving Truck Technology

Menlo Park-based Peloton, a startup developing technology aimed at ultimately developing automated, self-driving trucks, is about to close a $60M Series B funding round, according to multiple reports. The funding round is being led by Omnitracs, and also includes Intel Capital, DENSO International America, Castrol innoVentures, Lockheed Martin, Nokia Growth Partners, UPS, Strategic Enterprise Fund, Volvo Group Capital, Sandhill Angels, Band of Angels, Birchmere Ventures, Grupo Bimbo, Mitsui, Okaya, Schlumberger, and US Ventures.. Peloton's technology currently aimed at "peering" individual trucks together on the highways, allowing them to draft each other very closely in an automated way--and providing dramatic fuel savings.