GenLogs, a Washington, D.C.-based provider of a network of roadside sensors collecting data on truck movements, raised over $6M in Seed funding.
The round was led by Autotech Ventures and Steel Atlas with participation from Venture53, TitletownTech, Plug and Play Ventures, BBQ Capital, ASC Ventures, and JHH Ventures.
The company intends to use the funds to expand its sensor network and a suite of computer vision models to provide customers with an omniscient view of the transportation industry.
Led by CEO Ryan Joyce, GenLogs develops a nationwide network of roadside sensors that passively collect data on truck movements and extract key details, such as the U.S. Department of Transportation (USDOT) and motor carrier (MC) numbers, as well as the equipment types and logos – all in real-time. This approach provides comprehensive, end-to-end visibility of trucks without the need for hardware installation, device integration, or an app. The data is available via a user interface or ingestible via API for access in a freight broker’s transportation management system (TMS).
In addition to offering insights into truck carriers, the company offers visibility into more than 250,000 shipper locations, their lanes, and load volumes. This provides freight brokers with the data needed to engage and secure new business while ensuring customers have access to a trucking network to manage increased demand.
FinSMEs
24/09/2024