TLDR:
FreightTech startup Aifleet raises $16M Series B to expand operations. The company plans to use the funds to fuel its technology research and development, growth, operations, and sales teams, and further develop scalable infrastructure.
Summary
Aifleet, a technology-enabled trucking company based in Austin, Texas, announced a $16.6 million Series B funding round led by Tom Williams, general partner at Heron Rock. This round brings Aifleet’s total venture capital raise to about $50 million since its founding in 2020. The company aims to use the funds to enhance driver utilization and tackle challenges faced by drivers in the industry.
With 204 drivers and power units, Aifleet focuses on optimizing routes, reducing costs per mile, and minimizing the number of trucks on the road. The company’s unique AI technology aims to pay drivers more, provide them with more time at home, and contribute to reducing emissions. Co-founder and CEO Marc El Khoury expressed confidence in the company’s potential profitability by the end of the year.
The Series B round also saw participation from Volvo Group Venture Capital, Obvious Ventures, Ibex Investors, Compound, Winthrop Square, and Cooley. Aifleet’s commitment to disrupting the trucking industry through technological innovation positions it to become a leading and profitable truckload carrier in the United States.
