Volvo Group, Continental and the European Investment Bank are some of the companies funding the investment in Madrid-based transport company Trucksters, for the development of a long-distance electric truck relay system.
Trucksters uses advanced algorithms and AI to efficiently manage long-haul relay transportation across Europe, offering faster, safer, and more sustainable transport solutions. Founded in 2018 by Luis Bardají, Gabor Balogh, and Ramón Castro, Trucksters aims to enhance efficiency within the global road freight industry and improve the quality of life for drivers. The company secured €14 million in a first round of funding last year and the company now has funding to support further fleet growth and business development.
The innovative Trucksters service reduces long-distance transit times by up to 50% by enabling trucks to stay in continuous motion through relay points. Presently, the company manages four logistics corridors, facilitating transportation from Spain to Western and Eastern Europe as well as the UK. These corridors feature fixed relay points where trucks exchange their semi-trailers, eliminating unnecessary stops and enabling drivers to return home sooner.
Luis Bardají, co-founder and CEO of Trucksters, emphasises that when they were founded they never thought “that after only a few years we would formalise a partnership like the one we have just signed with Volvo and Continental. Having them as our shareholders is a dream come true,” he says.
“The investment at Trucksters is in line with our vision of mobility, which encompasses innovative data-driven fleet management solutions, ensures operational efficiency and promotes sustainable growth. In addition to their excellent team and strong business model,” said Jürgen Bilo, managing director of Continental’s Corporate Venture Capital Unit. “We believe Trucksters’ solution will revolutionise fleet management and shape the future of transport.”
“We are impressed with what Trucksters has achieved and see that the Volvo Group can add significant strategic value to the development of the business. Given the growing demand in freight transport, staff systems can provide a solid structure for long-haul electrification as well as autonomous solutions in the future,” said Martin Witt, President of Volvo Group Venture Capital.
Trucksters currently operates in the Netherlands, Germany, Belgium, Poland, the United Kingdom, France and Spain. In the funding announcement, the company does not specify which of these corridors is to be electrified by the end of 2023.