Greylock Partners invests in entrepreneurs that focus on consumer and enterprise software companies. The firm invests in companies that define new markets, including Airbnb, AppDynamics, Apptio, Arista Networks (NYSE: ANET), Cloudera, Docker, Dropbox, Facebook (Nasdaq: FB), LinkedIn (NYSE: LNKD), Medium, Nextdoor, Palo Alto Networks (NYSE: PANW), Pandora (NYSE: P), Pure Storage, and Workday (NYSE: WDAY). It was founded in 1965 and headquartered in Menlo Park, California.

Greylock

Investors of Gaorong Capital include world-class sovereign wealth funds, university endowment funds, family foundations, pension funds and fund of funds, as well as successful entrepreneurs, including founders and managements of Tencent, Alibaba, Baidu, JD, Xiaomi, Focus Media and VIPShop. They will provide with valuable industry resources, entrepreneurial experience, and global perspectives.

Gaorong Capital

SoftBank Vision Fund is a subsidiary of Softbank Group that specializes in growth capital and social impact investments. Sectors that the fund invests in include the internet of things, artificial intelligence (AI), robotics, communications infrastructure, telecoms, computational biology, biotech, cloud technologies and software, consumer internet businesses, financial technology, and mobile apps. The Fund is designed to be a catalyst for technology progress in anticipation that it will expand SoftBank's capabilities, accelerating progress towards SoftBank 2.0. It aims to invest in businesses and foundational platforms that SoftBank believes to revolutionize and innovate the world tomorrow.

SoftBank Vision Fund

ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 800 portfolio companies, including over 30 unicorns based in China.  We believe that great businesses start with exceptional founding teams. We are dedicated to helping our entrepreneurs build successful companies by providing them with mentorship and the best resources available. Some of our services include biannual demo days to top Chinese VCs, ZhenHR services, marketing and PR consulting, as well as fundraising. Our strong and large CEO network also facilitates entrepreneurs helping each other, especially via our WeChat platform.  ZhenFund has been ranked as the “#1 Early-Stage Investment Firm” for six years. Bob Xiaoping Xu, Founder of ZhenFund, has been named on the Midas List since 2016 and ranked #11 in 2019. Anna Fang, Founding Partner and CEO of ZhenFund, has been named on the Midas List since 2019 and made her 4th appearance as #12, and #1 on Midas Seed List in 2022.

ZhenFund

T. Rowe Price is an investment management firm dedicated to funding technology startups. The firm serves individuals, financial intermediaries, and institutions and offers a full range of investment strategies across a broad spectrum: debt, equities, and private equities.

T. Rowe Price

Baillie Gifford is an independently owned investment management firm. It is owned and run by 39 of its senior executives, who operate as a partnership, a structure that has endured for over a century and provides stability for clients and motivation for employees. It enables them to manage the business for the future as well as the present, with an emphasis on genuine long-term thinking rather than lurching haplessly between short-term targets.

Baillie Gifford

Fidelity Management and Research Company is a privately owned investment manager. Fidelity Management and Research Company specialize in the fields of retirement, investments, online trading, and asset management. Fidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want- from people investing their life savings to businesses managing their employee benefits to advisors needing technology to invest their clients' money.

Fidelity Management and Research Company

Chipotle Mexican Grill is a chain of restaurants in the US, UK, Canada, and France specializing in burritos and tacos. The company uses raw ingredients, classic cooking methods, and distinctive interior design--features that are more frequently found in the world of fine dining. Chipotle Mexican Grill was established in 1993 and is headquartered in Denver, Colorado, United States.

Chipotle Mexican Grill

Woven Capital is an investment fund that supports growth-stage companies focused on technology and innovation in mobility. It invests in growth-stage companies that are developing innovative technologies and business models in areas such as autonomous mobility, automation, artificial intelligence, machine learning, data and analytics, connectivity, and smart cities.

Woven Capital

Tiger Global Management is an investment firm that deploys capital globally. Tiger Global seeks to earn superior risk-adjusted returns for its investors over the long term. The firm’s fundamentally oriented investments focus primarily on the global Internet, technology, telecom, media consumer, and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes.

Tiger Global Management

Kroger is a grocery retailer that offers consumer products. Their manufacturing plants produce many of their brands' products, including breads, dairy products, meat and grocery items. They serve customers daily in their stores and online through e-commerce options.

Kroger

Google is a multinational technology company focusing on search engine technology, online advertising, cloud computing, computer software, quantum computing, e-commerce, artificial intelligence, and consumer electronics. Their products address a wide range of use cases, including email, navigation, cloud computing, web browsing, video sharing, productivity, operating systems, cloud storage, language translation, photo storage, video calling, smart home, smartphones, wearable technology, music streaming, and more.

Google

Nuro

Nuro is a technology company that develops a self-driving vehicle for local goods transportation. They transform local commerce through autonomous delivery. Their service helps merchants deliver goods to customers.

<div>Having emerged from stealth in 2018 (founded in 2016), Nuro is an autonomous delivery company co-founded by two ex-Google, self-driving engineers, Dave Ferguson and Jiajun Zhu. The founders are recognized experts in the autonomous vehicle space as the founding engineers of the self-driving unit at Google. Nuro is the only company that develops both autonomous driving software and its own unique, all-electric, autonomous delivery vehicle (ADV). Nuro also became the first company to receive permission from the California Department of Motor Vehicles to start commercial driverless deliveries<a href="https://sp-edge.com/updates/57">in December 2020.</a></div>

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

<div>Nuro is an autonomous delivery startup co-founded by two ex-Google, self-driving engineers, Dave Ferguson and Jiajun Zhu. The founders are recognized experts in the autonomous vehicle space as the founding engineers of the self-driving unit at Google. Nuro develops both autonomous driving software and its own unique, all-electric, autonomous delivery vehicle (ADV), which is being used for autonomous last mile delivery. Nuro is, by far, the largest and most well-funded company in the last mile delivery automation space, with a total of USD 2.1 billion in funding and a USD 8.6 billion valuation as of November 2021.</div>

Using online platforms, autonomy, electric and fuel-cell tech solutions to shape the future of trucking.

Truck Industry Tech

<div>
 
 Having emerged from stealth in 2018 (founded in 2016), Nuro is an autonomous delivery company co-founded by two ex-Google, self-driving engineers, Dave Ferguson and Jiajun Zhu. The founders are recognized experts in the autonomous vehicle space as the founding engineers of the self-driving unit at Google. Nuro is the only company that develops both autonomous driving software and its own unique, all-electric, autonomous delivery vehicle (ADV). Nuro also became the first company to receive permission from the California Department of Motor Vehicles to start commercial driverless deliveries 
 <a href="https://sp-edge.com/updates/57">
 in December 2020.
 </a>
 
 
 The company unveiled its third-generation production-scale ADV dubbed &ldquo;Nuro&rdquo; 
 <a href="https://sp-edge.com/updates/7751">
 in January 2022,
 </a>
 after the first (R1) and second-generation (R2) vehicles introduced in 2018 and February 2020, respectively. The Nuro bot can carry a payload of roughly 500 lbs, traveling at a maximum speed of 45 mph, and comes with customizable storage and temperature-controlled compartments. It is also equipped with external airbags, LiDAR, radars, cameras, and thermal cameras for a 360-degree.&nbsp;
 
 
 Nuro announced restructuring plans that include layoffs and a shift in resources from commercial operations toward R&amp;D 
 <a href="https://sp-edge.com/updates/18410">
 in May 2023.
 </a>
 It also announced layoffs twice in 2022; first as a part of the company&rsquo;s business strategy development 
 <a href="https://sp-edge.com/updates/11591">
 in July 2022
 </a>
 , which resulted in laying off 10+ employees, and then in 
 <a href="https://sp-edge.com/updates/14788">
 November 2022
 </a>
 , when the company laid off 300 employees (20% of its workforce) citing unfavorable economic conditions and the need to extend its cash runway into 2025.
 
 
 Key customers and partnerships
 
 
 The ADVs would be manufactured in partnership with the North American division of the Chinese electric vehicle manufacturer BYD at Nuro&rsquo;s 
 <a href="https://sp-edge.com/updates/4889">
 facility in Nevada
 </a>
 (yet to go live as of May 2023). The company also partnered with Google Cloud in 
 <a href="https://sp-edge.com/updates/6370">
 November 2021
 </a>
 to support its self-driving simulations, data management, and explore opportunities to strengthen local commerce. Nuro&rsquo;s self-driving software is also licensed to the autonomous trucking company Ike (acquired 
 <a href="https://sp-edge.com/updates/57">
 in December 2020).
 </a>
 
 
 Nuro has several deployment partnerships with companies including Kroger (since 2018; last extended 
 <a href="https://sp-edge.com/updates/7751">
 in January 2022),
 </a>
 Domino&rsquo;s (June 2019; extended 
 <a href="https://sp-edge.com/updates/113">
 in April 2021),
 </a>
 Walmart (December 2019), CVS Pharmacy (May 2020), FedEx 
 <a href="https://sp-edge.com/updates/164">
 (June 2021),
 </a>
 7-Eleven 
 <a href="https://sp-edge.com/updates/7066">
 (December 2021),
 </a>
 and Uber Eats 
 <a href="https://sp-edge.com/updates/12888">
 (September 2022)
 </a>
 for delivery trials/commercial pilots in Texas, Arizona, and California.
 
 
 Funding and financials
 
 
 Nuro is, by far, the largest and most well-funded company in the last mile delivery automation space, with a total of USD 2.1 billion in funding raised. In its latest Series D funding round 
 <a href="https://sp-edge.com/updates/6370">
 in November 2021,
 </a>
 the company raised USD 600 million led by Tiger Global Management, at a valuation of USD 8.6 billion, to commercialize its offering nationwide and scale production at its facility. Previously, 
 <a href="https://sp-edge.com/updates/107">
 in March 2021,
 </a>
 the company received further investments from investors including Woven Capital (a growth-stage fund owned by a Toyota subsidiary) and Chipotle, as a part of its Series C 
 <a href="https://sp-edge.com/updates/19">
 in November 2020.
 </a>
 
</div>

<div>
 
 Zing Drone Delivery 
 offers an end-to-end drone delivery platform that works with DJI drones (a Chinese drone manufacturer). The platform comes with built-in software for precise landing, obstacle avoidance, and aircraft traffic detection. Drone pilots can team up with Zing to make deliveries with their own drones, while Zing undertakes the licensing and insuring of pilots. Customers can order food and over-the-counter (OTC) medication via Zing’s app and get the items delivered by a drone, while drone pilots earn USD 15 for each completed delivery. Its revenue model includes a monthly subscription fee and sales to pilots of custom delivery boxes that need to be attached to the drone at a cost of USD 80 per box. The company has a product development partnership with software company Airspace Link to integrate airspace awareness technology (December 2021). It also partnered with air traffic navigation service provider Skyway Technologies to install route planning and air navigation solutions for operations in Florida and beyond (January 2022; conducted first flights in Montverde, Florida 
 <a href="https://sp-edge.com/updates/10175">
 in May 2022).
 </a>
 
 
 In May 2020, with an initial group of 21 pilots, Zing launched its services in 21 cities across the US, including Miami, FL, Denver, CO, Columbia, SC, San Antonio, TX, Las Vegas, NV, and Encinitas, CA. In November 2020, the Kansas Department of Transportation (KDOT) partnered with Zing to test package deliveries under the Federal Aviation Administration (FAA)'s BEYOND program.
 
 
 Key competitors: None comparable 
 (Zing Drone Delivery offers a drone delivery platform that works with DJI drones—does not make the drone itself)
 
</div>

Zing Drone Delivery

<div>
 
 DroneUp is a drone startup offering drone-based delivery services, construction, real estate monitoring, aerial data capturing, and marketing services utilizing drones. DroneUp was also awarded an Unmanned Aerial Systems (UAS) Services Master Agreement in August 2019 allowing public sector institutions in the US to access DroneUp services. As of November 2020, nine states have signed Participating Addendums (PAs) for the service. The company announced plans to move away from other services, and primarily focus on last-mile delivery applications 
 <a href="https://sp-edge.com/updates/18602">
 in May 2023
 </a>
 &mdash;which also resulted in layoffs at the time.
 
 
 The company has operations in the US (including a 
 <a href="https://sp-edge.com/updates/12581">
 planned R&amp;D center in Virginia),
 </a>
 and announced plans to expand into Europe 
 <a href="https://sp-edge.com/updates/11637">
 in July 2022.
 </a>
 
 
 Key customers and partnerships
 
 
 In June 2020, DroneUp launched its Operation Last-Mile project, in partnership with Virginia's Center for Innovative Technology (CIT) to determine how unmanned aerial systems can be useful to make critical deliveries during a crisis under FAA regulations. DroneUp conducted drone-based deliveries in partnership with organizations including Walmart 
 <a href="https://sp-edge.com/updates/30">
 (since September 2020,
 </a>
 extended to launch multi-site operations in 
 <a href="https://sp-edge.com/updates/6834">
 November 2021
 </a>
 and to extend services across six states 
 <a href="https://sp-edge.com/updates/10658">
 in May 2022);
 </a>
 NUAIR (Northeast UAS Airspace Integration Research Alliance), SUNY Upstate Medical University 
 <a href="https://sp-edge.com/updates/161">
 (June 2021);
 </a>
 the City of Ontario and the real estate company Brookfield Properties 
 <a href="https://sp-edge.com/updates/4266">
 (July 2021);
 </a>
 Riverside Health System 
 <a href="https://sp-edge.com/updates/17938">
 (April 2023);
 </a>
 and Carilion Clinic 
 <a href="https://sp-edge.com/updates/19264">
 (June 2023).
 </a>
 
 
 DroneUp&rsquo;s complementary acquisitions in the space include AeroVista Innovations, to provide full-service drone training to organizations (April 2020); Web Teks, a UAS software developer that had been a contractor for DroneUp 
 <a href="https://sp-edge.com/updates/103">
 (March 2021),
 </a>
 and AirMap, an airspace management software provider for drones 
 <a href="https://sp-edge.com/updates/7177">
 (December 2021).
 </a>
 DroneUp also has product partnerships with companies including 
 <a href="https://sp-edge.com/companies/865380">
 A2Z Drone Delivery
 </a>
 to integrate the latter&rsquo;s tethered freefall drone delivery technology into DroneUp&rsquo;s drones 
 <a href="https://sp-edge.com/updates/105">
 (March 2021);
 </a>
 South Korean company Doosan Mobility Innovation (DMI) to test drones using hydrogen fuel cell technology 
 <a href="https://sp-edge.com/updates/17671">
 (April 2023);
 </a>
 Irsi Automation to integrate airspace awareness tech into its drones 
 <a href="https://sp-edge.com/updates/18258">
 (May 2023);
 </a>
 and Wonder Robotics to integrate precision technology for drone-based deliveries 
 <a href="https://sp-edge.com/updates/18344">
 (May 2023).
 </a>
 
 
 Funding and financials
 
 
 DroneUp received an undisclosed amount of funds from Walmart 
 <a href="https://sp-edge.com/updates/167">
 in June 2021,
 </a>
 to develop a scalable last-mile delivery solution.
 
</div>

DroneUp

Agility Robotics develops a human-sized, bi-pedal robot called “Digit” designed for logistics applications including last-mile delivery (LMD). It is the only company in the market with a product designed to look and move like a human, using two upper limbs to carry an item while moving around on two legs. The robot uses a head-mounted LiDAR system for its primary navigation and is able to navigate semi-autonomously, carrying weight up to 40 lbs. The company has a production facility is in Albany, Oregon.The company's first bi-pedal research robot, Cassie, was used commercially since 2017 but has been shut down due to the release of Digit. Digit was developed in partnership with Ford Motor Company and has been available commercially since January 2020, with shipping to customers beginning in July 2020. The company unveiled the second generation of Digit <a href="https://sp-edge.com/updates/17182">in March 2023,</a> with plans to begin shipping to early customers in 2024 and a wider rollout in 2025 (price not disclosed). The company also planned to <a href="https://sp-edge.com/updates/21927">open a manufacturing facility in Oregon</a> by late 2023 to mass-produce the units.Key customers and partnershipsThe company received its first order from Ford in January 2020 for two Digit robots. Since then, several other unnamed Fortune 100 companies have reportedly purchased the robots, primarily for warehouse automation rather than last-mile delivery.Funding and financials<a href="https://sp-edge.com/updates/9899">In April 2022, </a>Agility Robotics raised USD 150 million in a Series B funding round led by DCVC and Playground Global to fast-track R&amp;D; ramp up production and delivery of its next-generation robot; double its team by 2024; open a new facility in Pittsburgh, Pennsylvania; and expand its existing Oregon facilities and Palo Alto, California operations.Key competitors: None comparable (Agility Robotics is the only startup developing a humanoid robot for parcel delivery)

Agility Robotics

<div>
 
 Manna Drone Delivery (Manna) provides drone delivery as a service to restaurant chains, cloud kitchens, and online food delivery platforms. Using custom-developed aerospace-grade drones, it delivers directly from restaurants and centralized kitchens to consumer's homes. It flies at an altitude of 260 feet at a speed of more than 50 mph, delivering within a 1.2-mile radius in less than three minutes, carrying a payload of 4.4 lbs. In May 2021, Manna received the Irish Aviation Authority&rsquo;s (IAA) 
 <a href="https://sp-edge.com/updates/62">
 &ldquo;Light UAS Operator Certificate&rdquo; (LUC),
 </a>
 available under EU drone regulations and recognized across the EU. With the certification, Manna can self-authorize operations without the need for further approvals.
 
 
 As of August 2022, Manna had completed around 100,000 test flights, serving around 45,000 eligible customers in Oranmore, Moneygall, and Balbriggan in Ireland. The company looks to 
 <a href="https://sp-edge.com/updates/12262">
 expand its reach
 </a>
 in Europe further and also announced plans to enter the US market 
 <a href="https://sp-edge.com/updates/17122">
 (Dallas, Texas)
 </a>
 in March 2023.
 
 
 Key customers and partnerships
 
 
 Its partners include Flipdish (signing up 1,000+ restaurants in Ireland; June 2019), 
 <a href="https://sp-edge.com/updates/91">
 Just Eat
 </a>
 (signing up Camile Thai restaurant and Ben and Jerry&rsquo;s ice cream for deliveries at University College Dublin; since February 2020), Tesco (a six-month trial in Oranmore; September 2020), Camile Thai&rsquo;s (for deliveries in Oranmore in February 2021; extending from a February 2020 partnership), 
 <a href="https://sp-edge.com/updates/106">
 Samsung Electronics
 </a>
 (for deliveries starting from Oranmore; March 2021), Coca-Cola (for deliveries in Oranmore; June 2021), and several other cafes, shops, and supermarkets in Moneygall and Balbriggan. It also partnered with multinational real estate developer Hillwood 
 <a href="https://sp-edge.com/updates/17122">
 in March 2023,
 </a>
 to launch the service in Dallas, Texas.
 
 
 Funding and financials
 
 
 <a href="https://sp-edge.com/updates/17122">
 In March 2023,
 </a>
 Manna received an undisclosed amount of funding from Coca-Cola HBC and entered into a strategic partnership with the same to expand its reach to the US market. Previously, in April 2021, Manna 
 <a href="https://sp-edge.com/updates/136">
 raised EUR 20.7 million (USD 25 million)
 </a>
 in a Series A funding round led by Draper Esprit, with participation from DST Global, Team Europe, and existing investors Dynamo Ventures, Atlantic Bridge, and Elkstone. The cash is going toward scaling up manufacturing and research and expanding operations to the UK and the US by 2023. 
 
</div>

Manna Drone Delivery

<div>
 
 Dianomix is a Canadian startup that develops a last mile delivery droid called Robox. Olivier Aubin and Ali Asghari co-founded the company, the former being an ex-employee of Google and Waymo with experience designing autonomous vehicles. The droids can deliver products within a distance of around three miles, and the large cargo space equipped with automatic unloading allows multiple deliveries in a single run. The robots are also proven to be operational even under bad weather conditions such as rain and light snow.
 
 
 The company plans to deliver groceries and other items from retailers to locals in Calgary, Alberta. As of October 2020, the company is engaged in testing the delivery droids in the community of Discovery Ridge. Dianomix pitches the product to retailers directly, where they can subscribe to the service and get access to multiple delivery droids. Upon retailers loading the bots and tagging the delivery address, Dianomix will take over the last mile delivery.
 
</div>

Dianomix Inc.

The solutions are electric and eco-friendly

Autonomous delivery solutions fall under Industry 4.0

All three types of delivery automation facilitate efficient and environmentally friendly solutions

Some companies use AI/ML tech for autonomous navigation.  (e.g., Goggo Network, Drone Express, Wayve)"

This is a sub-branch of self-driving cars and represents autonomous vehicles that can move along public roads. The technology used is similar to self-driving cars. ADVs have a higher load capacity and travel at a faster speed than vehicles like droids.

<div>
 
 Nuro is an autonomous delivery startup co-founded by two ex-Google, self-driving engineers, Dave Ferguson and Jiajun Zhu. The founders are recognized experts in the autonomous vehicle space as the founding engineers of the self-driving unit at Google. Nuro develops both autonomous driving software and its own unique, all-electric, autonomous delivery vehicle (ADV), which is being used for autonomous last mile delivery. Nuro is, by far, the largest and most well-funded company in the last mile delivery automation space, with a total of USD 2.1 billion in funding and a USD 8.6 billion valuation as of November 2021.
 
 
 Nuro entered the autonomous trucks industry in December 2020, when it acquired Ike, an autonomous trucking startup, for an undisclosed amount. In September 2020, Ike announced its &ldquo;Powered by Ike&rdquo; multi-year partnership with DHL (logistics company), Ryder Systems (a logistics and transportation company), and NFI (a supply chain solutions provider) to automate long-haul trucking with Level 4 autonomy (i.e., fully autonomous vehicles limited to specific locations and/or conditions). As of September 2020, these parties and several other companies had collectively reserved 1,000 class-8 trucks as part of the Powered by Ike program.
 
</div>

<div>
 
 Einride is a Swedish startup developing technology for both autonomous and electric trucks. Its product portfolio includes the freight-hauling autonomous Class 8 trucks &ldquo;Pods,&rdquo; electrified commercial mobility solutions &ldquo;E-trucks,&rdquo; electric semi-trailer 
 <a href="https://sp-edge.com/updates/10558">
 &ldquo;Einride Trailer,&rdquo;
 </a>
 its operating system &ldquo;Saga&rdquo;&mdash;an IoT-based system that runs through Einride&rsquo;s vehicles 
 <a href="https://sp-edge.com/updates/14209">
 (also offered to third parties),
 </a>
 a developer application programming interface called 
 <a href="https://sp-edge.com/updates/10558">
 &ldquo;Einride Extend&rdquo;;
 </a>
 and charging stations called 
 <a href="https://sp-edge.com/updates/14209">
 &ldquo;Einride Stations.&rdquo;
 </a>
 The company received a permit from the Swedish Transport Agency in March 2019 to run the AETs on a public road in J&ouml;nk&ouml;ping, Sweden in what was reportedly the first such public road test permit issued globally. The company also received approval from the National Highway Traffic Safety Association (NHTSA) to operate Pods without a safety driver on US roads 
 <a href="https://sp-edge.com/updates/11283">
 in June 2022,
 </a>
 and announced the launch of its trucks in Germany 
 <a href="https://sp-edge.com/updates/13069">
 in September 2022.
 </a>
 
 
 Key customers and partnerships
 
 
 Einride has several commercial contracts with local businesses including DB Schenker (November 2018), Lidl (April 2020), Oatly (May 2020; extended to include US 
 <a href="https://sp-edge.com/updates/11100">
 in June 2022),
 </a>
 and Electrolux (February 2021). It also partnered with AB InBev 
 <a href="https://sp-edge.com/updates/15017">
 in December 2022,
 </a>
 to deploy a fleet of its trucks in the Benelux region (Belgium, the Netherlands, and Luxembourg), and with German supermarket chain REWE to supply trucks for deployments in Germany 
 <a href="https://sp-edge.com/updates/18586">
 (May 2023).
 </a>
 
 
 The company expanded its footprint to the US 
 <a href="https://sp-edge.com/updates/6229">
 in October 2021,
 </a>
 by partnering with US home appliance manufacturer GE Appliances (GEA) to deploy its autonomous trucks at GEA&rsquo;s facilities in Kentucky, Tennessee, and Georgia (expanded partnership 
 <a href="https://sp-edge.com/updates/11283">
 in June 2022
 </a>
 to pilot autonomous trucks on US roads without a safety driver). In 
 <a href="https://sp-edge.com/updates/17838">
 April 2023
 </a>
 , it partnered with PepsiCo snack-food subsidiary, Walkers, to deploy trucks for the delivery of goods in the UK. It also partnered with Shipping company Maersk to supply 300 E-Trucks 
 <a href="https://sp-edge.com/updates/9350">
 (in March 2022)
 </a>
 and plant-based meat company Beyond Meat to supply five electric trucks with plans for further expansion 
 <a href="https://sp-edge.com/updates/12297">
 (August 2022)
 </a>
 &mdash;both partnerships were for deployment in the US. 
 <a href="https://sp-edge.com/updates/10962">
 In June 2022,
 </a>
 the company also announced plans to bring autonomous pods to Dallas-Fort Worth, Texas for partnering merchants. 
 It has a partnership with PostNord, a postal service responsible for 35% of all postal shipments in Scandinavia, to electrify its fleet in Sweden(2022) and Norway (
 <a href="https://sp-edge.com/updates/19450">
 June 2023
 </a>
 ).
 
 
 In 
 <a href="https://sp-edge.com/updates/19012">
 May 2023
 </a>
 , the company signed a Memorandum of Understanding with the United Arab Emirates (UAE) Ministry of Energy and Infrastructure to make Einride&rsquo;s full-freight mobility offering (which includes 2,000 electric trucks, 200 autonomous trucks, and eight charging stations with over 500 charging points) available across the UAE&rsquo;s &ldquo;Falcon Rise&rdquo; grid, a stretch of 550 km (341 miles) across Abu Dhabi, Dubai, and Sharjah. The freight ecosystem will be optimized and monitored using the &ldquo;Einride Saga&rdquo; platform.
 
 
 Einride also has truck purchase agreements with automakers including Mercedes-Benz (120 trucks for deployments in Europe; 
 <a href="https://sp-edge.com/sectors/commerce-and-hospitality/updates/7396">
 December 2021)
 </a>
 BYD (200 trucks for US deployments; 
 <a href="https://sp-edge.com/updates/8645">
 February 2022)
 </a>
 , Scania (110 trucks for deployment in Europe; 
 <a href="https://sp-edge.com/updates/11190">
 May 2022),
 </a>
 and DAF Trucks (50 electric trucks; 
 <a href="https://sp-edge.com/updates/18731">
 May 2023)
 </a>
 which would be retrofitted with Einride&rsquo;s autonomous/operating software. The company also has a partnership with the tire-making company Bridgestone (August 2021) to integrate its smart-sensing tire technology into Einride&rsquo;s vehicles.
 
 
 Funding and financials
 
 
 In March 2021, Einride announced that it is exploring the opportunity for a public listing through a special purpose acquisition company (SPAC). Then 
 <a href="https://sp-edge.com/updates/3397">
 in May 2021,
 </a>
 the company raised USD 110 million in a Series B funding round to scale up deployments in Europe to reach the UK, Germany, France, Nordics, and Benelux and also expand to the US in 2021. At the time, Einride was also looking to establish its US headquarters in Austin, Texas ahead of expansion. In December 2022, the company 
 <a href="https://sp-edge.com/updates/15177">
 raised USD 500 million
 </a>
 in equity and debt financing to fund geographical expansion into new and existing markets across Europe and North America.&nbsp;
 
 
 
</div>

Einride

<div>
 
 Kodiak Robotics is a startup developing Level-4 autonomous trucks (i.e., fully autonomous vehicles but limited to specific locations and/or conditions) powered by its autonomous technology &ldquo;Kodiak Driver,&rdquo; for long-haul transportation. Its co-founder, Don Brunette, is a former member of the Google self-driving project. Its approach to system engineering is unique and involves a ground-up approach without retrofitting systems from other autonomous vehicles. Its latest fourth-generation model 
 <a href="https://sp-edge.com/updates/5710">
 (unveiled in September 2021),
 </a>
 comes equipped with a modular sensor suite and comprises components from leading tech companies including Luminar, Cummins, Bridgestone Americas, and Nvidia, among others.
 
 
 The company plans to make the fourth-generation technology available for users in two ways: 1) shippers can either request to integrate the sensor pods into their fleets and pay a subscription fee for Kodiak Driver, or 2) partner with Kodiak Robotics to ship goods using Kodiak&rsquo;s fleet of autonomous trucks. The company also plans to introduce trucks without a safety driver by 2023. In 
 <a href="https://sp-edge.com/updates/18280">
 May 2023
 </a>
 , Kodiak Robotics announced the launch of its first autonomous Class 8 electric semi truck. The truck is a modified Peterbilt Model 579EV equipped with Kodiak&rsquo;s self-driving technology, Kodiak Driver, and has a range of 150 miles per charge. 
 
 
 In August 2019, Kodiak Robotics began commercial deliveries on Texas highways with its fleet of eight class-8 autonomous trucks, and plans to expand to a fleet of roughly 25 trucks by 2022. As of August 2022, it was operating six routes between Dallas and Houston, Austin, San Antonio, Atlanta, Oklahoma City, and Jacksonville, Florida. The company also has autonomous truck hubs in Dallas-Fort Worth (Texas) and 
 <a href="https://sp-edge.com/updates/21110">
 Villa Rica (Georgia).
 </a>
 
 
 Key customers and partnerships
 
 
 The company is conducting daily deliveries for an undisclosed freight carrier in Texas (as of May 2021), and has partnerships with Ceva Logistics for deliveries in Texas and Oklahoma 
 <a href="https://sp-edge.com/updates/8991">
 (March 2022),
 </a>
 U.S. Xpress to pilot a test run between Dallas-Fort Worth, Texas, and Atlanta, Georgia 
 <a href="https://sp-edge.com/updates/9650">
 (April 2022)
 </a>
 , 10 Roads Express to pilot a route between California, Texas, and Florida and to integrate autonomous tech into the latter&rsquo;s fleet 
 <a href="https://sp-edge.com/updates/11864">
 (July 2022);
 </a>
 Werner Enterprises to establish an autonomous trucking lane 
 <a href="https://sp-edge.com/updates/13398">
 (September 2022;
 </a>
 one week pilot completed in routes between Dallas, Texas and Lake City Florida in August 2022); and IKEA for deliveries between Baytown and Frisco, Texas 
 <a href="https://sp-edge.com/updates/13839">
 (October 2022).
 </a>
 It also has a partnership with travel center operator Pilot Company to co-develop truck service stations across North America 
 <a href="https://sp-edge.com/updates/12559">
 (August 2022).
 </a>
 In January 2023, Kodiak Robotics announced a partnership with semiconductor design company, Ambarella, Inc. to integrate Ambarella&rsquo;s CV2AQ AI perception system-on-chip (SoC) into Kodiak&rsquo;s self-driving trucks for all camera data processing. &nbsp;In 
 <a href="https://sp-edge.com/updates/20326">
 July 2023
 </a>
 , it partnered with Drivewyze, a provider of weigh station bypass solutions and the Texas Department of Public Safety to pilot a motor vehicle inspection program for autonomous trucks.
 
 
 <a href="https://sp-edge.com/updates/3402">
 In May 2021,
 </a>
 the company also partnered with South Korean conglomerate SK Group to bring its autonomous trucks to the Asia-Pacific region, including South Korea and China. The partners are said to consider a joint venture (JV) once Kodiak Robotics launches its commercial operations in the US.&nbsp;
 
 
 Funding and financials
 
 
 <a href="https://sp-edge.com/updates/13752">
 In October 2022,
 </a>
 Kodiak Robotics received a USD 30 million growth capital credit facility from Horizon Technology Finance Corporation, a specialty finance company. The company intended to utilize the funds to scale its autonomous driving platform and expand its product suite. Previously, 
 <a href="https://sp-edge.com/updates/6575">
 in November 2021,
 </a>
 Kodiak Robotics raised USD 125 million in a Series B funding round. The company intends to use the funds over 2022 to double its team, fast-track product commercialization, expand its autonomous service capabilities across the country, and expand its truck fleet.
 
</div>

Kodiak Robotics

<div>
 
 Peloton is an autonomous platooning technology company co-founded by Dave Lyons, the former Director of Engineering at Tesla who led the development of the Tesla Roadster powertrain. The company&rsquo;s primary truck platooning systems consist of &ldquo;PlatoonPro&rdquo; and the advanced version, &ldquo;AutoFollow.&rdquo; PlatoonPro, released in late 2018, had around six commercial customers engaged in freight operations, with additional trials underway by mid-2019. Considered a level-1 driver assistance system, the driver in the following truck is required to steer while systems in sync with the lead truck control the acceleration and brakes. According to the company, PlatoonPro delivers an average of 7% in fuel savings.
 
 
 In June 2019, the company unveiled the prototype of its advanced product, &ldquo;AutoFollow,&rdquo; a level-4 automated technology allowing communication between vehicles to connect a following automated truck with the lead truck in a platoon. The system has not yet been released to the market as of March 2021.&nbsp;
 
 
 The company&rsquo;s early investors include Denso International America, Intel Capital, Castrol innoVentures, Volvo Group Venture Capital, and the UPS Strategic Enterprise Fund.
 
</div>

Peloton Technology

<div>
 
 Plus (formerly Plus.ai) is a startup developing &ldquo;PlusDrive&rdquo; autonomous technology for long-haul heavy-duty trucks. Its Society of Automotive Engineers (SAE) Level-4 autonomous trucks (i.e., fully autonomous vehicles limited to specific locations and/or conditions) come equipped with LiDAR, cameras, radar, thermal cameras, 
 <a href="https://sp-edge.com/updates/5084">
 connected tires,
 </a>
 and 360-degree sensor fusion technology for safe operations and algorithms to optimize fuel usage. The technology is claimed to save around 10% of the fuel cost. Its &ldquo;Plus Build&rdquo; program, launched 
 <a href="https://sp-edge.com/updates/10252">
 in May 2022,
 </a>
 claims to uplift Class 8 freight trucks with PlusDrive and other related hardware within a day in partnership with fleet technology solutions provider Velociti.
 
 
 Key customers and partnerships
 
 
 In April 2018, the company demonstrated its autonomous trucks (without a safety driver) on China&rsquo;s Wufengshan Highway. It began production of autonomous trucks in China in 2021, in a joint venture with Chinese truck manufacturer FAW and delivered the first batch in September 2021. The trucks were to be available for sale via the Chinese freight platform &ldquo;Full Truck Alliance,&rdquo; one of Plus&rsquo;s strategic investors. In 2019, Plus began conducting coast-to-coast pilot runs in the US with shippers, including Land O&rsquo;Lakes. It has pilot partnerships with the US Transportation Research Center (TRC) (July 2020) and with Good Machine venture studio ( June 2021). 
 <a href="https://sp-edge.com/updates/3407">
 In June 2021,
 </a>
 the company received an order for 1,000 self-driving truck systems from Amazon.&nbsp;
 
 
 In April 2021, Plus partnered with IVECO, an alternative fuel-powered vehicle manufacturer in Italy to jointly develop automated trucks by integrating IVECO&rsquo;s S-WAY heavy-duty truck with PlusDrive software. The two companies commenced testing the trucks in Europe and China in December 2021, and started public road testing in Germany 
 <a href="https://sp-edge.com/updates/19927">
 in July 2023.
 </a>
 In April 2021, the company also partnered with global engine manufacturer Cummins to develop autonomous trucks using natural gas powertrains. In 
 <a href="https://sp-edge.com/updates/18177">
 May 2023
 </a>
 , Plus announced a partnership with Bosch to integrate PlusDrive with the Bosch integrated steering systems and in 
 <a href="https://sp-edge.com/updates/19201">
 June 2023
 </a>
 partnered with automotive technology company Luminar to integrate Luminar&rsquo;s LiDAR solutions into PlusDrive. 
 In 
 <a href="https://sp-edge.com/updates/21220">
 August 2023
 </a>
 , Plus partnered with Transurban to advance Transurban&rsquo;s automated freight program in Victoria, Australia.
 
 
 Funding and financials
 &nbsp;
 
 
 In February 2021, the company raised USD 200 million in a Series D round led by Guotai Junan International, CPE, and Wanxiang International Investment. In March 2021, the company upsized the fundraising, adding USD 220 million (bringing the total Series D round to USD 420 million), co-led by FountainVest Partners and ClearVue Partners. The company plans to use the new capital to fast-track the commercialization and deployment of its autonomous trucking system, scaling in the US and China while expanding to Europe and Asia. Its strategic investors include SAIC Capital, the investment arm of China&rsquo;s largest carmaker, SAIC Motor Co.
 
 
 <a href="https://sp-edge.com/updates/3395">
 In May 2021,
 </a>
 Plus announced plans to go public via a merger with the special purpose acquisition company (SPAC) Hennessy Capital Investment Corp, valuing the company at USD 3.3 billion. However, the company abandoned plans later in 
 <a href="https://sp-edge.com/updates/6549">
 November 2021.
 </a>
 
 <a href="https://sp-edge.com/updates/9519">
 In April 2022,
 </a>
 it was reported that Plus was considering listing its non-China businesses in a US initial public offering (IPO).
 
</div>

Plus

<div>
 
 Embark Technology, develops autonomous semi-trucks for freight and logistics purposes. Its trucks are currently developed with Society of Automotive Engineers (SAE) Level-2 automation (i.e., vehicles can control both the speed and the steering, but require a safety driver to maintain full vigilance), but the company planned to develop Level-4 technology (i.e., fully autonomous vehicles limited to specific locations and/or conditions). Embark&rsquo;s team comprises engineers from Tesla, Google, Audi, and NASA along with a professional operations team that averages over a million miles per driver.
 
 
 
 Key customers and partnerships
 
 
 The company has been testing the trucks since its launch in early 2017 (mostly in California), having driven 449,837 autonomous miles in 2019 alone (more than triple the mileage in 2018). Embark expanded operations to Texas and opened a trucking facility in Houston in 
 <a href="https://sp-edge.com/sectors/commerce-and-hospitality/updates/7266">
 December 2021.
 </a>
 Embark claims to be the first self-driving truck company to drive across the country, operate in poor weather (including snow), and navigate between transfer hubs. The company also has partnerships with fleet management solutions provider Ryder System to launch nationwide freight transfer points 
 <a href="https://sp-edge.com/updates/5538">
 (September 2021),
 </a>
 with real estate investment company Altera to launch transfer points across the US Sunbelt 
 <a href="https://sp-edge.com/updates/8783">
 (February 2022)
 </a>
 , and with trucking company U.S. Xpress to add the latter&rsquo;s terminals to Embarks&rsquo; transfer points coverage 
 <a href="https://sp-edge.com/updates/10218">
 (May 2021).
 </a>
 The company launched its coast-to-coast coverage map with nine transfer point sites across the sunbelt for pilot operations in 
 <a href="https://sp-edge.com/updates/14165">
 November 2022.
 </a>
 
 
 The company planned to begin driverless pilots in 2023 and commercialize the technology by 2024. The company reportedly had secured 14,200 reservations for its autonomous software as of March 2022. As of March 2021, the company&rsquo;s technology was reportedly being utilized by five Fortune 500 companies in the southwest US, including Amazon. In 2021, Embark also has partnerships with 
 <a href="https://sp-edge.com/updates/3378">
 AB InBev, Werner Enterprises, Mesilla Valley Transportation, Bison Transport,
 </a>
 <a href="https://sp-edge.com/updates/5478">
 HP Inc.,
 </a>
 Knight-Swift Transportation, DHL Supply Chain, and 
 <a href="https://sp-edge.com/updates/10218">
 U.S. Xpress
 </a>
 to deploy its autonomous trucks under its &ldquo;Partner Development Program (PDP).&rdquo; The company also introduced a new business model in partnership with Knight-Swift Transportation 
 <a href="https://sp-edge.com/updates/8333">
 in February 2022, 
 </a>
 where the ownership of autonomous trucks is transferred to the customer&mdash;reportedly marking an industry first. Embark delivered its first trucks to Knight-Swift 
 <a href="https://sp-edge.com/updates/15440">
 in December 2022.
 </a>
 
 
 In March 2021, the company unveiled its Embark Universal Interface (EUI), a set of standardized self-driving components and interfaces necessary for original equipment manufacturers (OEMs) in the trucking industry to integrate autonomous technology into their vehicles. The interface is powered by &ldquo;Nvidia Drive,&rdquo; an autonomous vehicle computing platform solution adopted following a partnership entered into in August 2021. The company also has partnerships with other Tier-1 suppliers and tech companies including 
 <a href="https://sp-edge.com/updates/5620">
 ZF,
 </a>
 and LiDAR manufacturer Luminar Technologies. Major OEMs whose trucks are being integrated with the EUI include Freightliner, Navistar International, PACCAR, and Volvo.
 
 
 Funding and financials
 
 
 Embark was listed on the Nasdaq in November 2021 
 <a href="https://sp-edge.com/updates/3409">
 by merging with a special purpose acquisition company (SPAC)
 </a>
 . 
 In May 2023, 
 <a href="https://sp-edge.com/updates/18902">
 Embark
 </a>
 announced plans to go private in a USD 71 million, all-cash merger with Applied Intuition, a California-based developer of autonomous vehicles technology. Following the merger, Embark will delist from the Nasdaq. The Embark brand will continue to operate under Applied as a subsidiary. 
 The company is yet to generate revenue, and it reported a net loss of USD 124.2 million for the year ended 
 <a href="https://sp-edge.com/updates/9191">
 December 2021
 </a>
 (loss of USD 0.67 per share).
 
</div>

Embark Technology

Electric and fuel cell trucks contribute to reduced carbon footprint of vehicle fleets

Companies in "safety and driving assist tools" and "autonomous trucks" use AI/ML for autonomous navigation

Autonomous trucking solutions fall under Industry 4.0

Companies operating in "Autonomous trucks" segment often provide autonomous mobility solutions

Developers of autonomous light, medium, and heavy-duty trucks. Most companies outfit truck chassis with their technology. The majority of autonomous trucks available test at SAE Level 3 (i.e., require a driver present and ready to take control or remote assistance by an operator).

Nuro

EDGE Insights

EDGE100: The rising startups at the forefront of innovation

EDGE100: The rising startups reshaping the future

Recent Updates

Nuro announces restructuring and layoffs; will shift focus from commercial operations to R&D

Nuro lays off 20% of its workforce

Nuro partners with Uber Eats for autonomous food deliveries

Nuro lays off 10+ employees in Houston, Mountain View, and Phoenix

Nuro unveils third-gen autonomous delivery vehicle; expands Kroger partnership

Nuro pairs with 7-Eleven to pilot autonomous deliveries in California

Company Brief

Funding

Investors

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless