The mark of a truly ground-breaking technology is that it seems deceptively simple. When Calibrate first met the TruckLabs team back in 2018, Founder and CEO Daniel Burrows showed us a simple-looking aerodynamic device that we quickly realized could make a huge impact on carbon emissions. TruckWings are aerodynamic “wings” installed behind a truck’s cab that autonomously deploy at high speeds to close the gap between cab and trailer. Trucks equipped with TruckWings reduce drag, save up to 10% on fuel costs, and lower their overall emissions.
We were so taken with the elegant simplicity of TruckWings—and all the advanced automation, physics, and engineering talent it took to design such a simple-yet-effective product-—that we led TruckLabs’ $10.5 million Series A back in 2019, and, this month, we’re thrilled to announce we’re co-leading a $15 million Series A extension in the company alongside Autotech Ventures and Uncork Capital. Since Calibrate first invested in TruckLabs, the company has grown by leaps and bounds. TruckWings are currently logging on average more than 3.5 million miles per week and have collectively logged more than 300 million miles. Already, four of the top 10 trucking companies in North America use TruckWings, and strong word-of-mouth endorsement is bringing new customers every month.
TruckLabs also offers a software platform called TripDynamics used by fleet managers to monitor and encourage eco-friendly and cost-effective driver performance, and by drivers to input real-time feedback on their job satisfaction, well-being, and daily challenges. Aside from increasing driver loyalty and retention, TripDynamics helps fleet managers make data-driven decisions on staffing, routes, and fuel purchases.
Clearly, we’re not the only ones who think TruckLabs is onto something. Founded out of Stanford University, TruckLabs has won awards in several Department of Energy (DOE) competitions including the National CleanTech Awards, as well as CalTech’s FLoW competition and Heavy Duty Trucking Top 20 Products.
What sets TruckLabs apart is that its products are a win-win-win for truckers, fleet owners, and the planet. Truckers love TruckWings because the device provides a smoother, better driving experience, and they love TripDynamics because they can earn more income for fuel-efficient driving and get a platform to share their on-the-job feedback. Fleet owners love TruckWings products because they reduce fuel costs, improve fleet efficiency, and help retain drivers. And, since TruckLabs reduces carbon emissions and helps fight climate change, everyone benefits. We’re excited to partner with Daniel and the entire TruckLabs team as they expand into new markets, grow their product line, and continue on their sky’s-the-limit journey.