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What does Peloton Technology do?
Peloton Technology, is a company which develops vehicle systems that delivers advanced safety and analytics and fuel savings to trucking fleets. It offers radar and dedicated short range communication based safety systems to link trucks together. The company uses DSRC and radar vehicle to vehicle communications to link active safety systems between truck pairs, lowering expenditures and fuel costs related to collision. The drivers of the vehicles remain totally engaged and keep control of the steering, while the systems control acceleration and braking like adaptive cruise control. The big decrease in aerodynamic drag in these platoons provides improvements substantially in the fuel economy for the leading and trailing trucks with on road testing providing more than 10% savings for each truck.
How much Peloton Technology was funded?
Peloton Technology raised an undisclosed amount in an undisclosed round on July 23rd, 2015 from Nokia Growth Partners.
Previous funding
- $900k in Seed round on April 1, 2013 from Band of Angels, Ken Arnold and Birchmere Ventures
- $16M in Series A funding on April 22, 2015 from Denso(Lead), Band of Angels Partner: Ken Arnold, Intel Capital (Lead), Castrol innoVentures, Birchmere Ventures, Magna International, UPS Strategic Enterprise Fund, Sand Hill Angels and Volvo Group Venture Capital
What is next for Peloton Technology?
The funding will be used for accelerating Peloton Technology’s development and deployment of truck platooning technology into the U.S.A and international trucking industries.
More about Peloton Technology
Peloton Technology was founded in 2011 by Steve Boyd, Josh Switkes, Chris Gerdes and Dave Lyons. It has its headquarters in Menlo Park, CA. It is a Silicon Valley based vehicle automation company which is bringing new safety levels, efficiency and analytics for freight trucking. The company employs vehicle to vehicle communications, vehicle control algorithms, active safety systems to make individual trucks safe.
