Platform Science, a leading telematics technology provider for the commercial transportation sector, has secured $125 million in growth capital from key players in the freight trucking industry. The funding will be used to expedite innovation in the transportation industry.
Notable commercial investors in this round of funding include C.R. England, Cummins, Daimler Truck, PACCAR, RyderVentures, and Schneider. In addition to these existing investors like 8VC, NewRoad Capital Partners, and Prologis Ventures, new financial investors such as Activant Capital, BDT & MSD Partners, and Manhattan Venture Partners have joined the initiative.
The investment will support the development of Platform Science’s Virtual Vehicle platform, which serves as a standard for connecting vehicles to the entire logistics ecosystem. Virtual Vehicle is already being utilized by major commercial trucking fleets like C.R. England, Covenant, Schneider, and Werner Enterprises.
One unique feature of Virtual Vehicle is its ability to unlock signals directly on the truck without requiring any aftermarket hardware installation. This allows fleets to improve the driver experience by integrating an application ecosystem that includes solutions from telematics providers, third-party developers
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