Aifleet, a technology-driven trucking company, recently secured $14 million in funding led by Ibex Investors, with participation from other investors. This round brings the company’s total funding to $35 million since 2021. Aifleet’s mission is to improve driver utilization and reduce inefficiencies in the trucking industry. By using their technology, they have already achieved a 4x increase in revenue since their 2021 funding, even in a challenging market. With the new capital, they plan to expand their fleet, product, and engineering teams, aiming to create a future where drivers can go home more frequently with the help of technology.

Optimization:

Aifleet, a technology-focused trucking company, has successfully closed a $14 million funding round, primarily led by Ibex Investors and Obvious Ventures, Gerdau Next, Compound, Cooley, and individual investor Tom Williams. This funding marks a total of $35 million raised by the company since 2021. Aifleet’s core goal is to revolutionize the trucking industry by maximizing driver efficiency, reducing wasteful practices, and minimizing emissions.

Aifleet’s co-founder and CEO, Marc El Khoury, aims to utilize drivers and assets to the fullest while ensuring drivers get to go home weekly. Their innovative technology enables them to optimize routes for drivers by considering delivery schedules and pickup times, ultimately increasing driver profitability.

Aifleet’s approach involves both technology and asset management, focusing on safety, insurance, and compliance. They believe this holistic approach is essential for success in the trucking industry. Despite challenges in the carrier market, Aifleet has experienced substantial growth, with a fourfold increase in revenue since its last funding round in 2021.

With the new funding, Aifleet plans to expand its product, engineering, and operations teams. Their vision includes a future where technology allows most drivers to return home daily, even with electric trucks, which pose unique optimization challenges.

In summary, Aifleet has secured $14 million in funding to further its mission of enhancing trucking efficiency through technology and plans to expand its team and fleet to shape the industry’s future.

Inspired by: https://www.freightwaves.com/news/aifleet-raises-14m-to-continue-improving-driver-utilization-rates