KeepTruckin, a software and hardware developer for fleet Management, announced that it raised USD 190 Million in a Series E funding round, which brings the company at a valuation of USD 2 Billion.

This round was led by G2 Venture Partners, with the participation of existing investors like Index Ventures, Greenoaks Capitals, IVP and Scale Ventures Partners. The fund was managed by BlackRock.

KeepTruckin will be utilizing the funds raised into its AI-based products i.e, ELD compliance and dispatch, workflow, and GPS tracking.  But the main motive will be on improving its smart dashcam, this product identifies unsafe driving behaviour like phone distraction and closes everything which may distract the driver.

About KeepTruckin – 

A Logistics and Fleet management unicorn, KeepTruckin was founded and established by Obaid Khan, Ryan Johns, and Shoaib Makani in the year 2013, having its headquarters in San Francisco, California. 

KeepTruckin has experienced 70% of annualized growth, in a large part of the industry due to expansion into new markets like gas, construction and oil, field services, food and beverages, agriculture, and moving and storage.

KeepTruckin expects that this surge of demand will increase and intends to use the capital raised to scale itself rapidly and recruit more workforce to progress its AI system, increasing its R and D team to 700, approximately double. All it will be focused on machine vision, engineering, data science and other AI areas.

“KeepTruckin’s special sauce is that we can build complex models (that other edge cameras can’t yet run) and make it run on the edge with low-power, low-memory and low-bandwidth constraints. We have developed in-house IPs to solve this problem at different environmental conditions such as low-light, extreme weather, occluded subject and distortions.”

“We think packaging these products into operator-friendly user interfaces for people who are not deeply technical is critical, so front-end and full-stack engineers with experience building incredibly intuitive mobile and web applications are also a high priority.”

“Level 4 and eventually level 5 autonomy will come to the trucking industry, but we are still many years away from broad deployment. Our AI-powered dashcam is making drivers safer and helping prevent accidents today. While the promise of autonomy is real, we are working hard to help companies realize the value of this technology now.” – Shoiabb Makani, co-founder, KeepTruckin.

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