Trucksters shifts into high gear with €33 million series B funding

Trucksters is on a mission to be the first electric long-haul operator in Europe. 
Trucksters shifts into high gear with €33 million series B funding

This week Madrid-based company Trucksters announced a €33 million Series B investment.  

Founded in 2018 by Luis Bardají, Gabor Balogh and Ramón Castro, Trucksters' goal is to make the global road freight industry more efficient and to improve the quality of life for drivers. 

The Trucksters service reduces long-distance road transit time  by allowing trucks to be continuously on the move through relays.

Truck drivers sleep more nights at home, as they only drive sections of a longer route.  At relay points, they swap semitrailers to drive other goods in the opposite direction. Thanks to these relays, drivers’ quality of life is improved, while delivering a faster, more cost-efficient service for its clients.  

The company has managed to deliver airline-like efficiency in four corridors: the Central/Northern Spain connected to Dortmund, the Spanish Levante connected to Benelux and West Germany, the Levante to Poland and its new corridor for Central Spain connected to UK, linking Barcelona and Northern Spain to the UK in 28 – 34 hours. This is 50% faster than current road-transport times.

Trucksters transported more than 600 fully loaded trucks and carried out almost 2,000 relays in 2022.

The service is used by over 600 renowned Spanish and international companies such as Samsung, Bosch, LG, DHL and Nestlé.

The company plans to become one of the first long-haul freight operators to use electric vehicles by the end of 2023. 

According to Luis Bardají, CEO of Trucksters, the collaboration will allow the company "to implement technological advances that will improve safety in freight transport and, at the same time, encourage the adoption of electric trucks for a more sustainable industry."

Martin Witt, President of Volvo Group Venture Capital, shared:

"We are impressed by what Trucksters has accomplished and see that Volvo Group can add considerable strategic value to the development of their business. 

With a growing need for freight transportation, relay systems can provide a solid structure for electrification of long-haul transportation as well as for autonomous solutions in the future."

Trucksters has raised €54 million in funding over three rounds.  

The new round is backed by new investors, including Continental’s Corporate Venture Capital Unit, Volvo Group Venture Capital, the European Investment Bank (EIB), and FondICO, Spain’s “fund of funds.”
The funding received from the EIB is part of European InvestEU, an investment programme focused on the EU’s shared priorities which include ‘Innovation, digitisation and human capital,’ climate action and environmental sustainability, all of which are key to Trucksters’ business strategy. 

The new capital injection will fulfil some of the company’s strategic objectives, including electrifying its routes, potentially making Trucksters the first electric long-haul operator in Europe. 

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