Solo Advanced Vehicle Technologies Announces $7 Million in Seed Funding to Build the First Ground-up Heavy Truck Platform for Autonomous Freight Transportation

Solo Advanced Vehicle Technologies SD1 Heavy, the safest, greenest, and most efficient heavy truck purpose-built for the rapid deployment of autonomous software. (Photo: Business Wire)

SAN FRANCISCO, March 16, 2022–(BUSINESS WIRE)–Solo Advanced Vehicle Technologies (Solo), the vehicle hardware company revolutionizing the freight transportation industry, today announced $7 million in seed funding led by Trucks VC with participation from Maniv Mobility and Wireframe Ventures. Solo is building the first ground-up heavy truck platform to be compatible with any autonomous driving software, thereby solving the inefficiency of retrofitting existing, human-centric trucks for autonomous driving. Today’s financing will be used to build out Solo’s engineering team as the company expands at its new headquarters in Fremont, California. The team will finalize the design and build Solo’s first test vehicle – a battery-electric Class 8 truck that will begin testing in 2022. The test “mule” will inform the design and engineering of Solo’s alpha truck, the SD1 Heavy, a process that will also advance this year.

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“At Solo, we believe that modern technology requires a modern platform, yet the autonomous trucks already being deployed today are forced to combine advanced autonomous software with antiquated vehicles. By delivering a purpose-built heavy truck platform that is software agnostic we will materially change the future of the freight transportation sector and enable the growth and efficiency that the global supply chain demands,” said Graham Doorley, Founder and CEO, Solo Advanced Vehicle Technologies. “Our team has decades of experience understanding the opportunities for autonomous trucking, and has seen first-hand the limitations of the existing platforms. We are uniquely primed to tackle this market and, with the early support of committed investors, we’re excited to build the future of freight.”

Source: www.yahoo.com