XStream Trucking, a Redwood City, CA-based design and engineering company focused on connected hardware for the commercial vehicle industry, secured $10.5m in Series A funding.
The round was co-led by Autotech Ventures and Calibrate Ventures, with participation from existing shareholders Uncork Capital, Root Ventures, FusionX and Tandem Capital.
The company intends to use the funds to accelerate its ability to expand its business reach.
Founded out of Stanford University in 2014 and led by Daniel Burrows, CEO, XStream Trucking provides TruckWings, 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 between 4-6%.
The company also offers GPS-enabled software that tracks fuel savings information in real-time.
Since launching the first road units in October 2016, XStream Trucking has seen adoption with fleets covering more than 1 million miles per week.
FinSMEs
30/05/2019