Thursday, April 6, 2017

Omnitracs Backing Peloton For Self Driving Truck Technology

Dallas-based telematics provider Omnitracs is the lead investor in a company, Peloton, which is developing technology aimed at ultimately developing automated, self driving trucks. According to reports, Peloton Technology, based in Silicon Valley, is on the cusp of closing $60M in a Series B funding round, led by Omnitracs. Peloton's technology currently aimed at "peering" individual trucks together on the highways, allowing them to draft each other very closely in an automated way--and providing dramatic fuel savings. Other investors in the round reportedly include Intel Capital, DENSO International America, Castrol innoVentures, Lockheed Martin, Nokia Growth Partners, UPS, Strategic Enterprise Fund, Volvo Group Capital, Sandhill Angels, Band of Angels, Birchmere Ventures, Grupo Bimbo, Mitsui, Okaya, Schlumberger, and US Ventures.