Participated · Series B · Apr 2017

Peloton’s core product is a driver-assistive platooning system that links the active safety systems of paired trucks and connects them to a cloud-based Network Operations Center to limit platooning to appropriate roads and conditions. The system requires best-in-class forward collision avoidance and other active safety features to improve safety both in and out of platoon. Peloton plans to roll out the world’s first commercial two-truck driver-assistive platooning system later in 2017 and to continue developing more advanced automation solutions. Several U.S.-based Fortune 500 fleets plan to trial the system within the next year, and Peloton is accelerating vehicle integration projects with OEMs including Volvo Trucks North America and Tier 1 suppliers. The company emphasizes collaboration with a broad investor mix and partners to bring solutions to international markets. Financially, Peloton closed a $60 million Series B and has raised $78 million in total since inception. Peloton Technology builds the Peloton Truck Platooning System, which electronically couples pairs of trucks using vehicle-to-vehicle communications, radar-based active braking and proprietary vehicle-control algorithms. The system is overseen by a cloud-based Network Operations Center that monitors safety and approves linking only under suitable conditions while drivers retain steering control. Peloton reports the system has logged more than 15,000 platooning miles and been demonstrated in multiple on-highway tests and fleet pilots across U.S. states. Independent SAE J1321 Type II testing by the North American Council for Freight Efficiency showed fuel reductions of about 10% for the rear truck and 4.5% for the front truck. The company is Silicon Valley–based (Mountain View, Calif.) and is backed by several large strategic investors, including multiple Fortune Global 500 transportation and technology companies. Peloton is commercializing its technology through additional demonstrations and planned fleet pilot deployments later this year to accelerate adoption in U.S. and international trucking markets.