Trucksters closes EUR 33 million Series B

The Spanish scale-up Trucksters has closed a Series B financing round for 33 million euros. Continental, Volvo and the European Investment Bank are among the investors on board for the first time.

Madrid - Spanish scale-up Trucksters, which is revolutionizing road transport through the use of AI and big data, has successfully closed a €33 million Series B investment round. The company is on its way to becoming Europe's first operator of electrified long-haul transportation.

The investment in Trucksters is in line with our vision of mobility, which includes innovative data-driven fleet management solutions

Jürgen Bilo, GF CorporateVenture Capital Unit Continental

Trucksters' largest financing round to date is backed by new investors, including Continental's Corporate Venture Capital Unit, Volvo Group Venture Capital, the European Investment Bank (EIB) and FondICO. Existing investors have also reiterated their confidence in Trucksters and continue to support the company. Kibo Ventures, the German logistics fund Amplifier VC, The Valley VC, Bonsai Partners and the funds Big Sur Ventures and Metavallon VC are still part of this financing round. In addition, Sacha Michaud, co-founder of Glovo and member of the Board of Directors as Non-Executive Chairman, is also participating in this round.

Given the growing demand in freight transportation, echelon systems can provide a solid structure for the electrification of long haul and autonomous solutions in the future

Martin Witt, President of Volvo Group Venture Capital

The capital will be used for various strategic objectives. A main focus is on the electrification of the routes to make Trucksters the first company in Europe to offer electrified long-haul transportation. In addition, the investments will be used to support key areas of the company, such as the expansion of the IT and management team and the development of new international corridors. Another goal is to improve working conditions for drivers and provide efficient transport solutions for customers.

Safety, putting drivers first, sustainability and electrification are the elements that led us to found Trucksters

Luis Bardají, co-founder and CEO Trucksters

The Spanish scale-up Trucksters is experiencing impressive growth, reaching a turnover of 30 million euros in 2022, an increase of 300% compared to the previous year. Despite challenges such as the driver shortage, Trucksters was able to increase its fleet threefold. The company is already active in several European countries, including Spain, Belgium, Germany and Poland. With a truck relay system based on big data and artificial intelligence, Trucksters offers efficient routes between Europe and Spain. The scale-up operates four main corridors, including a new corridor from central Spain to the UK. The company moves more than 600 trucks and completed almost 2,000 relay tours last year. Trucksters currently employs 103 people and plans to expand the team further.