Volvo Group Venture Capital has invested in the Spanish company, Truckster, a relay-based transport service that aims to cut drivers’ hours, speed up delivery times and reduce transport costs.
Truckster’s innovative relay system uses big data and artificial intelligence (AI) to divide routes into sections, allowing drivers to drive shorter routes in relay. The Madrid-based firm says its service reduces long-distance road transit time up to 50% by allowing trucks to be continuously on the move through relays. The system is 20% more cost-efficient than trucks that are run continuously, says Truckster.
The relay system also provides drivers with a better experience and reduces the chances of cargo theft.
“The company, Trucksters, is using advanced algorithms and AI to manage long-haul relay transportation through Europe providing faster, safer and more sustainable transports,” says Martin Witt, president of Volvo Group Venture Capital.
“We are impressed by what Trucksters has accomplished and see that Volvo Group can add considerable strategic value to the development of their business. With a growing need for freight transportation, relay systems can provide a solid structure for electrification of long-haul transportation as well as for autonomous solutions in the future.”
Founded in 2018, Trucksters’ goal is to make the global road freight industry more efficient and to improve the quality of life for drivers.
Today the fast-growing company manages four logistics corridors from Spain to Western and Eastern Europe and the UK. Through the corridors, Trucksters has fixed relay points where a truck exchanges its semi-trailer with another truck, avoiding stops and enabling the driver to travel back home.
“The investment from Volvo Group Venture Capital is a great milestone for Trucksters. We share many core values such as safety, driver focus, sustainability and electrification, and are delighted to be able to start this new phase together,” says Luis Bardají, CEO of Trucksters.
“Our collaboration will allow us to implement technological advances that will improve safety in freight transport and, at the same time, encourage the adoption of electric trucks for a more sustainable industry.”
Volvo Group Venture Capital was founded in 1997 and invests globally in start-up and scale-up companies.
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