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  September 22nd, 2023 | Written by

FERNRIDE Raises $50M Series A to Scale Autonomous Yard Trucking

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FERNRIDE, a German autonomous trucking innovator, has raised $50M in Series A funding to scale its human-assisted autonomous yard trucking technology. The funding round was led by Deep Tech and Climate Funds (DTCF), a $1BN venture fund backed by the German government, and Munich Re Ventures, the venture capital arm of Munich Reinsurance.

FERNRIDE’s unique approach to autonomous trucking involves using teleoperations to keep a human in the loop, which allows the company to deploy its technology more quickly and safely than other fully autonomous trucking startups. FERNRIDE has already partnered with leading industry players such as Volkswagen, DB Schenker, and HHLA to test and deploy its autonomous yard trucks.

The new funding will be used to accelerate FERNRIDE’s growth and technological development. The company plans to expand its operations globally and invest in its human-assisted autonomy platform. FERNRIDE is committed to using its technology to promote sustainability, increase productivity, and improve worker safety in the global supply chain.