Peloton’s $60M Funding Boost: Accelerating the Future of Truck Platooning
Connected and automated vehicle startup Peloton Technology has closed a $60 million Series B funding round, spearheaded by fleet management leader Omnitracs (a Qualcomm spin-off). The investment round also attracted high-profile backers like Intel Capital, Nokia Growth Partners, Volvo Group, BP Ventures, Lockheed Martin, and UPS Strategic Enterprise Fund.
Revolutionizing Freight Transport with Platooning
Founded in Mountain View, California (2011), Peloton focuses on solving three critical challenges in the trucking industry:
- Safety: Reducing accidents through synchronized braking
- Fuel Efficiency: Cutting consumption via optimized aerodynamics
- Operational Costs: Streamlining fleet management
Peloton’s vehicle-to-vehicle (V2V) communication system enables trucks to drive in close formation (platooning), with the rear truck automatically mirroring the lead truck’s movements. This “driver-assistive” technology integrates cloud-based routing to ensure platooning only occurs under safe road conditions.
Strategic Growth and Industry Partnerships
The new funding will accelerate:
- Commercial deployment of Peloton’s platooning system
- Advanced automation R&D for future solutions
- Integration with major truck manufacturers (including Volvo in North America)
Omnitracs, the lead investor, plans to embed Peloton’s tech into its platform. John Graham, Omnitracs CEO, emphasized:
“The transportation industry is transforming. IoT, faster deliveries, and automation demand innovations like Peloton’s platooning to redefine highway logistics.”
Why Intel’s Involvement Matters
Intel Capital’s participation aligns with its $15.3B acquisition of Mobileye (March 2017), signaling a strategic push into autonomous vehicle tech. Kathy Winter, Intel VP of Automated Driving, noted:
*“Scalable solutions like Peloton’s are pivotal steps toward full autonomy.”
The Competitive Landscape
Peloton isn’t alone in modernizing freight transport:
- Einride (Sweden): Unveiled the autonomous, electric T-pod
- Embark: Developed self-driving tech to combat driver fatigue
- Uber’s Otto: Predicts driverless trucks on U.S. roads within 10 years (despite legal challenges from Alphabet)
The Road Ahead
With this funding, Peloton is poised to enhance highway safety, reduce emissions, and lower operational costs—key milestones in the journey toward fully autonomous freight transport.
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