XStream Trucking announced it has secured $10.5 million in Series A funding. The proceeds of the round will be used to accelerate the company’s ability to deliver better fuel economy to the U.S. trucking industry through hardware and software solutions, the company says.
The funding was co-led by Autotech Ventures and Calibrate Ventures, along with participation from existing shareholders of Uncork Capital, Root Ventures, FusionX and Tandem Capital.
XStream Trucking’s flagship technology, TruckWings, is an active-aero device that automatically closes the tractor-trailer gap on commercial trucks when the vehicle is at a certain speed and creates an estimated fuel savings of 4 to 6 percent, XStream Trucking says. The company also offers GPS-enabled software that tracks fuel savings information in real-time.
The company’s TruckWings was No. 9 on TPS’ top aftermarket products of 2017.
“Fuel is often the largest cost for commercial trucking fleets and our products can help large fleets save millions each year,” says Daniel Burrows, XStream Trucking CEO.
“XStream Trucking’s proprietary technology and state-of-the-art processes address a previously neglected area of truck aerodynamics, and we are thrilled to have the support of Autotech Ventures and Calibrate Ventures. Their partnership will allow us to expand our capabilities to deliver further cost-saving technology and software-based insights to America’s trucking companies,” Burrows says.
