Fluid Truck, a leading logistics and transportation platform, has announced a $63 million Series A funding round led by Bison Capital. In addition, Ingka Investments and Sumitomo Corporation of Americas are joining Bison Capital in this investment.
The funds will be used to expand the company’s services, hire more staff, and develop new technology.
This section will provide an overview of Fluid Truck and the investment round.
Overview of company
Fluid Truck is a newly launched commercial vehicle leasing and self-drive rental company based in Los Angeles, California. Founded in 2021, Fluid Truck is an initiative of Ingka Investments and Sumitomo Corporation of Americas, encouraged by both companies’ commitment to empowering businesses to excel through innovative mobility solutions globally.
Fluid Truck provides comprehensive fleet solutions for large fleets with flexible and attractive financing options and end-to-end services including the latest autonomous technology from its strategic partners: Udelv and Trifo. They also offer shorter-term self-drive rentals for individual drivers and small businesses looking for a convenient way to explore their mobility options without long-term commitments or costly outlays. With access to dozens of different make/model combinations available in Los Angeles, Fluid Truck helps customers eliminate the hassle associated with conventional fleet management while ensuring they stay on the road safely.
Committed to being on the cutting edge of innovation and efficiency, Fluid Truck’s core value focuses on delivering uncompromising quality by providing clients with high calibre vehicles that meet their unique needs backed by top-notch customer service. Customers within reach are offered face to face interaction through their physical locations in San Francisco, Palo Alto and Los Angeles where clients can speak directly to an expert team member about their needs and find out everything they need about leasing/renting from Fluid Truck. In addition, customers can take advantage of more specific maintenance and access personalised routes if needed through FleetXpert – Fluid Trucks 24/7 digital assistant platform – which makes creating optimised routes more efficient than ever!
Overview of product and services
Fluid Truck Inc. is a transportation technology company leveraging cutting-edge software, mobility services and its proprietary transportation network to deliver a safe and reliable platform for customers, including large national shippers. Its mission is to provide shippers of all sizes with modern logistics solutions, powerful marketplace capabilities and comprehensive professional services that enable end-to-end visibility and enable them to be more agile in today’s changing environment.
Fluid Truck provides an innovative set of transportation solutions including on-demand truck delivery, routed lanes for local, regional and long haul shipments, refrigerated transport service and the ability to manage fleet maintenance operations across a network of licensed carriers. In addition, fluid Truck offers an intuitive technology platform that allows for flexible customer journey creation, analytics driven decision making and shipment optimization, full visibility into in-transit real time status updates, support for third party integrations such as ERP/TMS systems and seamless transaction management across multiple client teams.
In addition to its existing customer offerings, Fluid Truck is partnering with leading investors Ingka Investments and Sumitomo Corporation of Americas to enhance its products and services by developing new technologies such as autonomous driving fleets in global markets. Through these partnerships, Fluid Truck looks forward to expanding its ecosystem of notable customers nationally within the US and globally worldwide.
Fluid Truck Closes $63 Million Series A Round Led by Bison Capital – Joined by Ingka Investments & Sumitomo Corporation of Americas
Fluid Truck, a revolutionary software-enabled last-mile delivery trucking platform, recently announced the successful closure of its Series A fundraising round.
Led by Bison Capital, the round raised approximately $63 million and was joined by Ingka Investments and Sumitomo Corporation of Americas, both of which are the company’s strategic partners.
The funds raised will accelerate Fluid Truck’s growth and expand its services to more cities across North America.
Overview of investment round
Today, Fluid Truck, a digital platform that connects truck owners and businesses for more efficient shipping of goods, announced a $63 million Series A investment. The funding round was led by Ingka Investments, a strategic investor in the innovation space, along with participation from Sumitomo Corporation of Americas. Existing investors Honeywell Ventures and In Motion Ventures also contributed to the funding round.
The investment will support Fluid Truck’s growth as it continues to expand trucking service options and build out its digital logistics platform. Fluid Truck provides real-time access to optimal routes and tracking services while ensuring driver safety, allowing faster delivery of goods at lower cost than traditional methods.
Fluid Truck offers shippers access to a larger pool of carriers, including those outside their current network; brokers are also encouraged to join the platform. Thanks to additional capital, Fluid Truck plans on expanding its offerings so that existing customers can take advantage of its full on-demand shipping capabilities — easy quoting, customer-centric rates, transparency into delivery times via tracking updates in real-time — while continuing its focus on offering drivers better pay models based on performance metrics and incentives for arriving on time with customer-ready freight.
Details of investment round
Fluid Truck, an electric commercial truck startup, announced today it has closed a $63 million Series A round led by Ingka Investments, the strategic investment arm of Ingka Group. Sumitomo Corporation of Americas also participated in the round. This meets the company’s goal of driving rapid commercialization and creating clean automotive technology for customers. The proceeds will be aimed at accelerating product development and scaling production.
This significant fundraising round underscores investor confidence in Fluid Truck’s technology and strategic growth plans. The capital will primarily go towards scaling production to meet upcoming spikes in demand, recruiting talent to expand its workforce, furthering its sales strategy and rollouts into new markets, enhancing product offerings and enhancing innovation across EV propulsion systems.
Bison Capital Leads Investment Round
Fluid Truck, a digital freight marketplace company, recently closed a $63 million Series A round led by Bison Capital. This investment round was joined by Ingka Investments and Sumitomo Corporation of Americas, with participation from other investors such as New Ground Ventures, PivotNorth Capital, and Gradient Ventures.
This marks an important milestone in Fluid Truck’s journey and affirms the trust of the leading investors in the company.
Overview of Bison Capital
Bison Capital is a global private equity firm, founded in 2018. The firm invests across the consumer, technology, and healthcare sectors globally. Bison Capital has over $1 billion of assets under management. It is led by a team of experienced investors committed to helping the companies in their portfolio realise their goals.
Headquartered in San Francisco, Bison Capital’s team comprises several former executives from large public companies and renowned venture capitalists. They possess significant operating experience and insight that can help companies navigate global markets and seize strategic opportunities.
The company focuses on deploying capital towards companies with strong growth prospects and a need for strategic guidance to further accelerate their success. As part of its mission, Bison Capital partners with organisations that develop innovative solutions that benefit society and its investors. By investing long-term capital alongside experienced venture capitalists and corporate investors, the firm helps bring disruptive technologies to global markets quickly and responsibly.
Details of Bison Capital’s investment
Bison Capital, a partner-led merchant bank focused on growth companies, today announced the closing of an investment round. It was joined by Ingka Investments and Sumitomo Corporation of Americas (SCOA) as co-investors. Bison Capital’s current portfolio company, Higher Learning Technologies (HLT), is leading the development of adult learning and development technology solutions.
This significant capital injection will accelerate HLT’s commercialization roadmap by enabling scale up activities and expansion into new global markets. In addition, HLT provides innovative solutions to help individuals maximise their learning potential, retain skills, and qualify for professional advancement. As a result, bison Capital identified HLT as a company with extraordinary potential among its peers in serious edtech investments globally.
Ingka Investments is the strategic investment arm of IKEA Group, one of the world’s most iconic brands creating a better everyday life for people worldwide through products designed by its Swedish ingenuity that feature smart solutions for small spaces. With this latest financing round led by Bison Capital coupled with support from Ingka Investments and SCOA, HLT will be able to expand geographically to more markets thereby delivering more access to microlearning solutions in developing countries.
This latest asset class addition further reinforces Bison Capital’s commitment to sustainability-led investments that can result in meaningful impact at scale within communities worldwide. As part of Ingka Group with international presence promoting sustainability across all aspects including financial investments made towards education today, money goes towards promoting progress for generations through the development of transformative technologies like learning management systems used by universities and corporations worldwide. Together we are confident our organisations are moving closer towards creating a brighter future for generations tomorrow through innovation today!
Ingka Investments & Sumitomo Corporation of Americas Join Investment Round
Fluid Truck, a commercial electric vehicle manufacturer, announced that it has closed a $63 million Series A funding round led by Bison Capital.
Joining the round are Ingka Investments and Sumitomo Corporation of Americas, two major investors in the technology and automotive space. These investments mark an exciting step forward in Fluid Truck’s mission to produce the most reliable and efficient electric commercial vehicles.
Overview of Ingka Investments
Ingka Investments is a strategic, long-term investor in institutional-grade real estate and related businesses. It invests in opportunities to provide access to retail, office and logistics real estate, and residential development projects or digital technology portfolios. Since 1994, Ingka Investments has built a portfolio of 339 properties in 30 countries.
Ingka Investments is the pioneering real estate venture capital arm of IKEA Group and part of the Ingka Foundation. It works closely with partners across the investment industry to pursue high value opportunities for its clients. The group has an experienced team with global reach that combines expertise from multiple sectors including real estate, private equity, finance and technology.
With a long history in European real estate investments, Ingka Investments expanded into North America in 2016 and has since made investments totaling more than $400m across the US, Canada and Mexico. In addition, the venture capitalist firm has provided support to new companies like Trumid – an online marketplace for fixed income trading platform; Rubicon Project – an automated programmatic advertising platform; as well as start-ups such as Sidewalk Labs – focusing on building smarter cities powered by data; Kinderlime – a cloud based solution for managing children daycare centres; Parans Solar Lighting which markets natural sunlight tubes for interior lighting solutions; among others.
Overview of Sumitomo Corporation of Americas
Sumitomo Corporation of Americas (SCOA) is an operating company of Sumitomo Corporation, one of the world’s largest integrated trading and investment enterprises. With regional headquarters in New York, Toronto, and São Paulo, SCOA is integral to Sumitomo Corporation’s worldwide network. It has nearly 400 employees throughout its offices in the United States and Canada.
SCOA’s core business areas include Energy Resources & Infrastructure; Metals; Machinery; Automobile Parts; Electronics & IT; Chemicals & Plastics; Food Resources & Agriculture Business, Logistics & Distribution Services. The company also offers extensive services such as project finance and consulting. Understanding global commodities and familiarity with local markets enables SCOA to build unique bridges linking advanced customers with dynamic emerging markets.
The company’s portfolio spans a diverse range of industries including energy sources such as fossil fuels and renewables, medical technology, sustainable agriculture production including quinoa crops, advanced materials development for lithium ion batteries used in electronically powered vehicles, biotechnology-based nutrition products among several other initiatives. In addition to their well established investments across these industries globally they have also made significant investments in US companies including those in the energy sector such as INKEROS Power Holdings LLC. Through this partnership they are looking forward to ways that they can continue to expand their portfolio through embracing innovation from startups and entrepreneurs across the different facets of their business interests.
Details of Ingka Investments & Sumitomo Corporation of Americas’ investments
Ingka Investments and Sumitomo Corporation of Americas recently announced their joint investment in a strategic round of funding for the well-recognized innovation and technology company, Cartologic. This investment round was raised to scale up the development of its innovative location data platform.
The amount of the funding remains undisclosed. Evidently, this strategic round was raised to accelerate Cartologic’s ability to provide enterprise customers worldwide with location data, AI and analytics capabilities, allowing them to identify trends that develop within their customer base and take action accordingly.
Ingka Investments will leverage its networks and resources to support the global expansion of Cartologic’s data-driven offering for retailers, hospitality businesses, financial service providers, intelligence companies and others who serve large markets or need cross-border insights.
Meanwhile, Sumitomo Corporation of Americas will utilise its expertise across industries including retailing, IT services and asset management businesses to strengthen partnerships with clients in various countries worldwide while leveraging Cartologic’s technology. In addition, the corporation also has a keen interest in utilising artificial intelligence (AI) technology for applications beyond retail sites analysis such as customer insight gathering purposes.
Cartologic expects these investments to further advance its state-of-the art technologies in enterprise AI, location data services and spatial analytics for customers worldwide looking for real-time consumer insights related to omnichannel sales activity or movement trends at brick & mortar stores or warehouses.
tags = Fluid Truck, $63 Million Series, ngka Investments & Sumitomo Corporation of Americas, denverbased fluid truck 63m series capitalgarstenforbes, truck sharing platform, Easy and affordable mobility, Andreas Hildebrand, Partner at Bison Capital
