Trucksters, the Spanish freight transport start-up revolutionising road transport with the usage of AI, has raised a new 8 million investment which builds on a successful 6.3 million Series A financing round which took place only seven months ago in July 2021. The capital increase raises the total Series A round at a grand total of 14.3 million euros. New financial support will be used to grow the company’s IT team by 300%, open new routes and transport corridors, and continue its international expansion which saw the opening of its latest office in Poland earlier in February.
Most importantly, this new investment will also be utilized to improve and add new features which will help continue to improve the working conditions of truck drivers and, for example, enable drivers to receive payments on time and more efficiently.
New investment demonstrates the trust current investors have on the company’s future, hence deciding to continue and increase their support. The round was backed by Kibo Ventures, the German logistics fund Amplifier, Bonsai Partners, the German joint venture of Axel Springer & Porsche, and the funds Big Sur Ventures, Metavallon VC and The Valley VC. In addition, Sacha Michaud, co-founder of Glovo, and Juan Urdiales, co-CEO of Job & Talent, also participated in the investment.
Sacha Michaud, co-founder of Glovo having reinvested in this round, says: “What I have always loved about Trucksters is how its model is based around technology and relays, and how it can impact the lives of truck drivers, helping them to spend less time away from home.” The investor, who is also a member of the firm’s board of directors, argues that “Trucksters has turned a very good idea into a reality, having shown spectacular growth. We believe thay have enormous potential and wanted to support them further, hence not needing to find additional external funding,” He explains. According to Michaud Trucksters is on the most interesting companies in the Spain start-up scene.
As well as reinvesting investors, this round has seen new financial support from Juan Urdiales, co-CEO of Job & Talent, Glovo, Wallbox and Cabify, and other start-up founders. “I met the team a few months ago and they have executed exactly what they said they were going to do,” he explains and adds “I think Trucksters provides a unique answer and ideal solution to the logistical chaos brought by the pandemic. The technology they have developed will opens a new path in long-distance logistics supply chain.
300% growth: more than 5 million euros turnover
Trucksters achieved more than €5 million turnover in 2021, a 300% growth compared to 2020. The company, which launched in 2018, aims to become one of Europe’s leading fleet operators but, most importantly, improve the working conditions and lives of truck drivers. Trucksters expects a sixfold turnover of €30 million in 2022.
Luis Bardají Izard, co-founder and CEO of Trucksters, says: “We are very happy with the support we have received from investors. This past year we have achieved major milestones that have allowed us to make a considerable leap in the sector.” Looking ahead, Bardají explains, “we will continue working along the same lines with new objectives including growing the team, adding new routes and continue expanding internationally.” According to Bardají, Trucksters aims to make the relay system a standard method of transport in Europe. “We are working towards a more sustainable and people-caring logistics ecosystem which helps improve the working conditions and lives of truck drivers.”
Major international expansion
Trucksters is currently present in Germany, Belgium, and Poland. The company will open new branches in the Netherlands and Italy in 2022. Since 2020, Trucksters has been successfully operating routes between Spain and the rest of Europe thanks to its relay system for road freight transport based on Big Data and Artificial Intelligence. The company manages high speed and efficient operations in three main corridors: Central/Northern Spain – Benelux/West Germany; Eastern Spain – Benelux/West Germany; and Eastern Spain – Poland.
Currently, Trucksters operates more than 600 fully loaded trucks and has carried out almost 2,000 relays in the last year. In addition, the company’s rapid expansion has meant growing the team significantly, with 80 employees to-date.
Trucksters’ innovative relay system is already being utilised by more than 600 renowned Spanish and international companies such as Kimberly Clark, the DPD Group, Amazon, and SEUR, the system has achieved extremely positive results in a short period of time and has been solving the sectors’ biggest challenges such as the global driver shortages.
Improved working conditions for truck drivers
Trucksters transport services help truck drivers spend more time at home, rest and be with their families, as the professionals only drive sections of a route instead of entire routes. At relay points, the cargo is exchanged and picked up by another driver, who will carry the goods to its next relay exchange point or destination. Thanks to these relays, the quality of life for the drivers has drastically improved, and companies receive faster, safer, and more cost-efficient transportation services.
Trucksters has raised more than 2 million euros in previous years, with the participation of leading business angels in Spain, such as Carlos Severino, partner at EY-Parthenon, and Telmo Pérez, director of Innovation at Acciona.
Collaboration with the Red Cross to send aid to refugees in Ukraine
Trucksters is currently working with the Spanish Red Cross to send several trucks with humanitarian aid to Ukrainian refugees who have had to flee their country due to the war. The initiative, developed in collaboration with the Spanish organisation Fundación Empresa y Sociedad, involves sending vehicles carrying blankets, tents and cooking utensils, goods considered to be basic necessities at this challenging time. The aid vehicles are leaving Spain and deliver their support at Debrecen, Hungary.