The logistics industry is currently grappling with significant challenges such as a severe shortage of truck drivers, increasing CO2 emissions, and narrow profit margins. These issues have notably impacted society and are expected to exacerbate. For instance, Europe’s current deficit of 400,000 truck drivers is anticipated to soar to 2,000,000 by 2026.
While autonomous driving appears to be a promising solution to these issues, many attempts to deploy such technology have been unsuccessful. Presently, no offerings provide a clear, immediate, or economically viable answer. However, some companies are beginning to successfully implement solutions for their clients.
One such company is FERNRIDE, a prominent German electric and autonomous trucking firm, which has raised approximately €29 million in Series A funding to expedite the shift toward automated and sustainable logistics, developing advanced human-machine collaboration technology.
This recent funding will enable FERNRIDE to expand its operations globally with both current and prospective customers while advancing the technological aspects of its distinctive approach to human-assisted autonomy.
Established in 2019, FERNRIDE’s innovative strategy tackles existing industry challenges by offering dependable driverless operations from the outset. The company has crafted a comprehensive solution that seamlessly integrates into live operations without causing interruptions or downtime.
“Our clients experience the advantages of our human-assisted autonomy model right from the beginning of our partnership,” states Hendrik Kramer, CEO and Co-Founder of FERNRIDE. “Our existing clients manage over 1,000 yard trucks across Europe. It is essential to provide a readily scalable solution. With FERNRIDE, we achieve this, as our approach immediately addresses various edge cases and offers the reliability that the industry requires.”
FERNRIDE’s funding comes from venture capital firms like 10x Founders, Promus Ventures, Fly Ventures, Speedinvest, and Push Ventures, in addition to corporate investors such as HHLA Next, DB Schenker via Schenker Ventures, and Krone. Investors are demonstrating confidence in FERNRIDE’s vision, highlighting the urgent need for industry transformation to tackle current challenges.
By blending a decade of research with expertise from the autonomous vehicle and automotive sectors, FERNRIDE has attracted senior team members from companies like BMW, MAN, Mobileye, and Argo.AI. The firm aims to secure its position as the global leader in autonomous trucking within the next five years.
“Transforming the logistics industry is a deep responsibility, making strategic partnerships with key players essential. The investments from our Series A will facilitate this transformation,” adds Kramer. FERNRIDE has already engaged with leading industry figures such as Volkswagen, DB Schenker, BSH, and HHLA, integrating automated trucks into their operational framework over the past year.
