Platform Science, a leading telematics technology provider for commercial transportation, has secured $125 million in growth capital from prominent players in the freight trucking industry. The funding will be used to drive innovation and enhance the commercial transportation sector.
The investors include major names like C.R. England, Cummins, Daimler Truck, PACCAR, RyderVentures, Schneider, Activant Capital, BDT & MSD Partners, Manhattan Venture Partners and existing investors such as 8VC, NewRoad Capital Partners and Prologis Ventures.
Platform Science’s Virtual Vehicle platform is at the heart of their technology. Developed in collaboration with major truck manufacturers like Daimler Truck North America and PACCAR, this platform acts as a technology standard for connecting vehicles to all parts of the logistics ecosystem. It allows fleets to integrate various applications made by telematics providers, third-party developers, OEMs, shippers and fleets themselves without any additional hardware installation.
The Virtual Vehicle platform is unique in that it can unlock signals at the edge directly on the truck without needing additional hardware installation. This allows fleets to enhance the driver experience by integrating various applications made by telematics providers into one platform. Platform Science’s co-founder and CEO Jack Kennedy expressed excitement about this technology’s impact on the transportation industry. He highlighted that by integrating their software as a native component of the vehicle they aim to make it easy for developers to create applications for drivers and fleets similar to developing for smartphones. Kennedy emphasized that this capital infusion would help them accelerate growth and drive innovation in the commercial transportation sector.
