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Fremont, CA: Platform Science, a leading connected vehicle platform, has secured $115 million in Series C round of financing. The round was led by SoftBank Vision Fund 2 and included participation from Chimera and existing investors 8VC, Prologis, Daimler, NextPlay, and Four More Capital. The new funds will be used to broaden the reach of the company's innovative transportation solutions and make it easier for fleets to develop, deploy, and manage mobile devices and applications on commercial vehicles
"There is an urgent demand for new and innovative ways to increase visibility and efficiencies in the supply chain and improve driver experience, and this investment from our new and existing partners is going to power us to fill that need," stated Jack Kennedy, co-founder & CEO of Platform Science. "Our platform breaks down the barriers that have historically created friction in the supply chain and provides developers with a connected channel to distribute their innovative solutions at scale."
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"Logistics is the backbone of the global economy but the majority of its vehicle fleets are still powered by legacy software that is highly fragmented," stated David Boriss, Director at SoftBank Investment Advisers. "We believe that Platform Science is the first company creating a platform that unifies hardware solutions and software operating systems in this sector. This offers flexibility and delivers an unlimited canvas to fleets and developers seeking to innovate and create new solutions as the industry evolves. We are delighted to be partnering with Jack Kennedy and the team to help fleets future-proof their operations by making transportation smart."
Boriss is expected to join Platform Science's Board of Directors as part of the funding round.
Platform Science recently launched Virtual Vehicle, a collaboration with Daimler Truck North America. The first open OEM platform, Virtual Vehicle, allows fleets to access telematics, software solutions, real-time vehicle data, and third-party applications directly from their vehicles. Furthermore, Platform Science collaborates with a number of leading carriers, including Schneider Werner Enterprises, National, and U.S. Xpress, as well as technology leaders such as Drivewyze, Samsung, and Great Dane.
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