This report profiles the top 20 truck technology start-ups looking to make a mark in freight brokering, freight matching and autonomous driving technology. It also provides an independent outlook of the trucking industry in US, Europe, India and China
BANGALORE, INDIA, June 04, 2018 /24-7PressRelease/ —
Scope of the report
This report profiles the top 20 truck technology start-ups looking to make a mark in freight brokering, freight matching and autonomous driving technology. It discusses the top VC investors active in this space.It also provides an independent outlook of the trucking industry in North America, Europe, India, and China.
Highlights of the report
1. 181 investors have invested $1.03 billion cumulatively in these 20 start-ups over past 5 years
2. About 50% of the total funding ($1.03 billion)is raised by three Chinese start-ups (Tu Simple, Loji Logistics, and Yunmanman)
3. Convoy, Transfix and Peloton are the most funded start-ups of US, having $80 million, $78.5 million, $78 million funding.
4. More than 60% of these 20 start-ups are involved in digitizing the freight brokering market, which is fragmented in every part of the world.
5. Einride(Sweden) has the most distinctive autonomous trucking technology where the electric autonomous truck can be remote controlled.
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A statistical view of the global scenario shows an opportunistic landscape for the tech start-ups in the trucking industry, which needs a digital revolution to synchronize its supply chain and freight activities in order to minimize losses. The vast opportunity has led to VC and private equity funding in the sector pouring in from investors across the globe.
In 2017, the industry raised a funding of more than $500 million, which is a 100% increase compared to the previous year. The digitization is also fuelling the prospects of EV trucks and self-drive trucks, something which is already being successfully operated in Sweden by the start-up Einride.
Majority of the investment in this industry is done by large-scale e-commerce companies or retail chains (e.g. Amazon, Lidl, Flipkart etc.). The bulk of growth, however, is concentrated in China and US, where advanced technology, growing infrastructure, and demand has been the major driver in the rise of these startups.
Companies(Start-ups) profiled in the report
2 Loji logistics
4 Tu Simple
9 Cargo X
10 Keep Truckin
20 CDL Warrior
This report also includes
1. Profiles of 20 truck tech start-ups including funding history, business model, list of investors, growth goals and recent developments
2. Insights about investors active in the space
3. The truck technology start-up scene in the US, Europe, India and China
4. A detailed outlook of class 8 truck market in North America
5. Freight market in North America
6. An independent assessment of logistics market in Europe and Asia
7. Heavy truck market in key countries like China and India
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