Freight Tech
Freightos Announces Staff Cuts Amid Falling Freight Market
In response to declining revenues and freight market downturn, Freightos reduces staff by 13% and further lowers its 2023 revenue outlook.
Freight Tech
Freight Tech
Nikola Corp. Advances Zero-Emission Truck Deliveries
Nikola Corp. delivers a significant number of battery-electric trucks and receives a grant to build hydrogen refueling stations, pushing forward in the zero-emission space.
Freight Tech
FreightTech Continues to Attract Funding with Cart.com, Nuvocargo & Cargobot
FreightTech sector maintains investor interest as Cart.com, Nuvocargo, and Cargobot secure $102 million in collective funding for expansion and innovation.
Warehousing
Dexory Raises $19M to Enhance Warehouse Operations with AI & Robots
Warehouse tech startup Dexory secures $19 million in Series A funding to expand its AI and autonomous robot-driven inventory management solution.
Freight Tech
Convoy Downsizing Amid Leadership Change
Digital freight platform Convoy reduces staff and witnesses co-founder Grant Goodale's resignation, as the company adjusts to industry shifts.
Freight Tech
Drivingforce, Backed by Y Combinator, Exits Stealth Mode
Drivingforce, born out of Y Combinator, came out of Stealth mode this week. It addresses unique industry challenges for trucking companies. It streamlines recruiting, compliance, asset management, and HR operations into a single platform. Kevin Huang, the founder of Drivingforce, pivoted from manufacturing to the trucking industry. His understanding of
Freight Tech
Alvys Secures $6.3M Seed Funding
Alvys, a cloud-based TMS, has secured $6.3M in a seed round led by Bonfire Ventures and featuring participation from RTP Global and angel investors. The funding will be channeled into product enhancement, team expansion, and other key areas to strengthen the company's market position. A few
Freight Tech
Rose Rocket Raises $38M in Series B for TMS Expansion
Rose Rocket, a software-as-a-service transportation management system (TMS) founded in 2015, has raised $38 million in a Series B funding round. The Canadian-based company provides a platform for improved communication and collaboration among truckers, brokers, carriers, shippers, and drivers. With an existing customer base between 1,
Trucking
Tesla Semi Truck Mass Production Delayed to End of 2024
Owing to battery supply chain issues, Tesla's CEO Elon Musk has announced that large-scale production of the company's electric Semi truck will be delayed until the end of 2024.
Freight Tech
Next Trucking Seeks Sale After Raising Over $124 Million
Sequoia-backed Next Trucking is up for sale amidst a trucking slowdown. With revenues and EBITDA below expectations, it may face a steep discount from its last $500M valuation.
Freight Tech
CloudTrucks Layoffs 40% Of Staff Amid Tough Market
San Francisco-based FreightTech company CloudTrucks, which has raised approximately $142 million since its inception in 2019, has laid off an undisclosed number of its workforce due to a challenging freight market, with a source suggesting up to 40% of employees were affected. CEO Tobenna Arodiogbu emphasized the need to
Freight Tech
Freight Revolution: The Unveiling Of SuperTruck II
Daimler Truck North America (DTNA) has caused a stir in the freight tech world with its latest innovation – the Freightliner SuperTruck II. The company unveiled the vehicle at the Manifest Conference in Las Vegas last week. This high-efficiency tractor-trailer combination concept focuses on reduced emissions and practical application.