TruckLabs develops tractor-mounted aerodynamic technologies to reduce drag, improve stability, and increase fuel efficiency for the trucking industry. Its flagship product, TruckWings™, is a smart device that automatically closes the gap between cab and trailer. The company says it will use proceeds from the recent fundraise to further develop products, accelerate growth, and continue its mission to drive operational efficiencies while cutting emissions. TruckLabs was founded out of Stanford University in 2014 and is led by CEO Daniel Burrows. The company has won awards in several Department of Energy competitions, including the National CleanTech Award and CalTech’s FLoW competition. Financially, TruckLabs has closed a Series B funding round; the amount was undisclosed in reporting. TruckLabs designs and builds technology for the long-haul trucking industry, with a flagship aerodynamic device called TruckWings that automatically closes the gap between cab and trailer to save fuel. TruckWings are widely deployed across carrier fleets that average more than 3.5 million miles per week and have logged over 300 million miles overall. Since 2018, TruckWings have saved customers the equivalent of 3.1 million gallons of diesel (about $10 million at current diesel prices) and avoided 52 million pounds of CO2; a 60-truck pilot with Ryder produced over a 4% improvement in net miles-per-gallon. TruckLabs also offers TripDynamics, a gamified driver-engagement and performance-measurement software that is being rolled out across Mesilla Valley Transportation's 1,300-truck fleet after a successful pilot. The company intends to use new capital to expand hiring across product, sales, and engineering, invest in TripDynamics R&D, and increase TruckWings partnerships with original equipment manufacturers. Financially, TruckLabs completed a $15 million Series A and has raised $24 million in total venture capital to date. XStream Trucking, founded out of Stanford University in 2014 and led by CEO Daniel Burrows, develops connected hardware and software for the commercial vehicle industry. Its core product, TruckWings, is an active‑aero device that automatically closes the tractor‑trailer gap at speed to generate an estimated 4–6% fuel savings. The company also offers GPS‑enabled software that tracks fuel savings information in real time. Since launching its first road units in October 2016, XStream has seen adoption by fleets covering more than 1 million miles per week. The company intends to use new funding to accelerate and expand its business reach. XStream is based in Redwood City, California.

Total raised

$26M

Funding rounds

3

Latest round

Series A

Latest activity

Oct 2021