TNI || New Delhi || 25th March 2022
Trucks VC funded a $7 million seed round for Solo Advanced Vehicle Technologies (Solo), a vehicle hardware firm (with participation from Maniv Mobility and Wireframe Ventures).
Solo is developing the first heavy truck platform from the ground up that will work for any autonomous driving software.
As the firm grows at its new headquarters in Fremont, California, this funding will be used to expand Solo’s technical team.
According to the business, the team will finalise the design and manufacture Solo’s initial test vehicle, a battery-electric Class 8 truck, which will start testing in 2022.
The architecture and technology of Solo’s alpha truck, the SD1 Heavy, will be influenced by this test vehicle.
At Solo, they think that modern technology demands a modern platform, said Founder and CEO of Solo Advanced Vehicle Technologies, Graham Doorley.
However, the autonomous trucks already in use nowadays are forced to mix advanced autonomous software with ancient vehicles.
By delivering a purpose-built, software-agnostic heavy truck platform, they will fundamentally alter the future of freight transportation and allow the productivity and success that the supply chain globally requires.
Their crew has decades of expertise in autonomous trucks, as well as first-hand knowledge of the current platforms’ limitations, and they are uniquely positioned to take on this sector and are delighted to build the future of freight with the continuing support of committed investors, adds Doorley.
According to Jeffrey Schox, general partner at Trucks VC, Solo has the potential to alter how they move things in this decade, making it cleaner and safer.
Graham and his team have put together an investor syndicate that will be critical to Solo’s long-term financial plan, IP portfolio, as well as technical success.
Solo happens to be the first real attempt to see beyond the distance to a time not far off when the most economical, purest truck platform that can safely “drive” transforms the path of an industry that has existed for over a century, says Maniv Mobility’s Managing Partner, Michael Granoff.