Trucksters, a Spanish transport company specializing in long-distance freight transport services, has successfully concluded a €33 million Series B funding round. The company also announced its intentions to electrify parts of its long-haul freight transport service. The funding round attracted new investors such as Continental, Volvo, and the European Investment Bank, among others.
Trucksters utilizes artificial intelligence and big data in its truck switching system, which enables efficient long-distance freight transport. As one of the pioneers in the industry, the company aims to lead the way in electric long-haul transportation. It plans to introduce several electric trucks in the near future, with the number expected to increase throughout the year. By the end of 2023, Trucksters aims to have at least one route completely operated by electric trucks.
The recently completed funding round included participation from Continental, Volvo, and the European Investment Bank, in addition to existing investors such as Amplifier VC from Germany, BigSur Ventures, Bonsai Partners, Kibo Ventures, The Valley VC from Spain, and the international fund Metavallon VC. The European Investment Bank’s financing was made possible through the European InvestEU program.
The raised capital of over €33 million will enable Trucksters to achieve its strategic goals, including the electrification of routes. This move has the potential to make Trucksters the first company in Europe to transport goods over electrified long-distance routes. The company also plans to strengthen its IT and management teams and establish new international corridors.
Established in 2018, Trucksters closed a €14.3 million Series A funding round in March 2022. The company primarily caters to large customers with its innovative relay system, providing fast and reliable solutions to meet increased demand. Currently, Trucksters serves over 600 international companies, including renowned names like Samsung, Bosch, LG, DHL, and Nestlé.
Trucksters currently operates in several European countries, including the Netherlands, Germany, Belgium, Poland, the United Kingdom, France, and its home country Spain. Since 2020, the company has been servicing routes from Spain to various European nations. Four main corridors are currently covered: from central/northern Spain to Dortmund, from the Spanish east coast to the Benelux countries and western Germany, from the Spanish east coast to Poland, and, as of this year, from central Spain to the UK. The specific corridor targeted for electrification by the end of 2023 has not been disclosed.
Trucksters’ statistics indicate that it moved over 600 trucks and completed around 2,000 relay tours last year. The relay system allows trucks to cover partial routes and exchange loads, enhancing efficiency in logistics operations. With an AI-controlled relay system, Trucksters aims to perfect its “express relay transport” model.
Luis Bardají, co-founder and CEO of Trucksters, expressed his excitement about partnering with Volvo and Continental, stating that having them as shareholders is a dream come true. Bardají emphasized the shared values of safety, driver focus, sustainability, and electrification between Trucksters and the two companies. He looks forward to learning from their accomplishments and embarking on a new phase together.
Representatives from Volvo and Continental also commented on the partnership. Jürgen Bilo, managing director of Continental’s Corporate Venture Capital Unit, highlighted the alignment with their vision of mobility, which includes data-driven fleet management solutions, operational efficiency, and sustainable growth. Martin Witt, President of Volvo Group Venture Capital, praised Trucksters’ achievements and recognized the potential for long-haul electrification and autonomous solutions in the future, given the increasing demand in freight transport.
