Nevoya Secures $9.3 Million for AI-Driven Electric Truck Innovations
Nevoya raises $9.3 million to advance AI-powered electric trucking initiatives.
Key Points
- • Nevoya raised $9.3 million in seed financing led by Lowercarbon Capital.
- • The global electric truck market is expected to reach $125 billion by 2030.
- • Nevoya's AI-powered TMS aims to enhance zero-emissions trucking operations.
- • CEO Sami Khan emphasizes a commitment to customer-centric technology solutions.
Nevoya has successfully raised $9.3 million in seed funding, led by Lowercarbon Capital, to propel its development of AI-powered electric trucking solutions. The electric truck market is projected to grow to a staggering $125 billion by 2030, making this a strategic move within a rapidly evolving industry.
CEO Sami Khan highlighted the company’s innovative approach, stating, “We don’t just move freight—we embed ourselves in our customers’ operations, uncovering insights that others miss.” Nevoya is dedicated to redefining logistics through its proprietary AI-powered Transportation Management System (TMS), which focuses on enhancing zero-emissions trucking operations. The company aims not only to enhance its TMS platform but also to expand into new freight corridors and scale its workforce.
In a statement regarding the funding, Khan expressed the company's commitment to making zero-emissions freight economically viable while onboard more Fortune 500 clients within just six months of launching operations. The new funds will significantly support Nevoya’s ambitions to push the boundaries of traditional logistics models.
In a related development, experienced technology executive Mohamed "Mo" Elshenawy has been appointed to the board of Kodiak Robotics, further emphasizing the integration of AI in logistics and transportation. As Kodiak gears up for a public listing, the industry's shift towards AI-driven solutions is becoming more prominent, signaling the potential for significant advancements in autonomous and electric vehicle capabilities.