Trucksters closes 33 million Euro Series B

Spanish scale-up Trucksters has closed a €33 million Series B funding round. Among the investors, Continental, Volvo and the European Investment Bank are 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 Series B investment round of €33 million. The company is on track to become Europe's first electrified long-haul transport operator.

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

The largest funding round to date Trucksters is supported by new investors including Continental's Corporate Venture Capital Unit, Volvo Group Venture Capital, the European Investment Bank (EIB) and FondICO. Previous investors have also reiterated their confidence in Trucksters and continued 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 continue to be 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 transport, relay systems can provide a solid structure for long-haul electrification and autonomous solutions in the future

Martin Witt, president of Volvo Group Venture Capital

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

Safety, putting drivers in the spotlight, sustainability and electrification are the elements that led us to create Trucksters

Luis Bardají, co-founder and CEO Trucksters

Spanish scale-up Trucksters has experienced impressive growth, reaching a turnover of 30 million euros in 2022, a 300% increase year-on-year. Despite challenges such as the driver shortage, Trucksters has been able to increase its fleet threefold. The company already operates in several European countries, including Spain, Belgium, Germany and Poland. Using 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 United Kingdom. The company moves more than 600 trucks and made nearly 2,000 relay trips last year. Trucksters currently employs 103 people and plans to continue expanding the team.