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TLDR:
- Volvo Group Venture Capital invests in aifleet to enhance truck utilization.
- aifleet leverages AI technology to improve truck efficiency and driver satisfaction in the U.S. full-truckload segment.
Volvo Group Venture Capital AB has announced an investment in U.S.-based trucking company aifleet, which uses artificial intelligence (AI) technology to address inefficiencies in the trucking industry. Established in 2020, aifleet specializes in the U.S. full-truckload segment and achieves 40% higher driver utilization than the industry average by optimizing route planning, reducing empty miles, and automating processes through AI technology. The investment aims to enhance truck efficiency and driver satisfaction.
As the U.S. full-truckload market size is $400 billion, aifleet’s technology targets the fragmented market with half a million carriers. By securing $16.6 million in Series B funding, aifleet plans to fuel its research and development efforts, expand its operations team, ramp up sales, and improve infrastructure and processes. The company’s total funding now approaches $50 million.
Volvo Group North America is optimistic about aifleet’s potential, given their shared commitment to innovation and sustainable transportation solutions. With a focus on improving trucking efficiencies and enhancing the driver experience, aifleet is poised to make a significant impact on the industry with the support of Volvo Group Venture Capital and additional investors.
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