[Austin, October 2nd, 2023] - aifleet, a full-stack tech/trucking company leveraging AI to reshape the future of trucking, announced today that it has successfully raised $14MM in a Venture Round led by Ibex Investors with participating investors including Obvious Ventures, Gerdau Next, Compound, Tom Williams, and Cooley. Since its previous funding round, the company has grown its revenue by 4X, making it one of the fastest growing companies in the sector.

Aifleet operates in the full-truckload (FTL) segment of the trucking industry, which is valued at over $400 billion. This sector has faced recent challenges including one of the worst market downturns in history. FTL is highly fragmented among over 500,000 carriers, operating with an average driver utilization of under 50%, and creating massive inefficiencies in the supply chain.

Amid these challenges, aifleet has continued to grow. Powered by its proprietary, cutting-edge AI technology, aifleet is building the first scalable trucking fleet. By optimizing route planning and scheduling, and building end-to-end automation, aifleet is able to generate over 35% higher driver utilization than industry average.

“We founded aifleet because we saw a unique opportunity to solve the under-utilization challenges of the trucking industry through a full-stack tech/trucking company", said Marc El Khoury, Co-Founder & CEO. "Despite the current freight recession, we are proud to have maintained best in class driver retention, driver utilization, and reliability metrics”.

What sets aifleet apart is its operational efficiency. Through its optimization platform, the company can significantly reduce the number of trucks required to transport the same freight volume. Having fewer trucks on the road will have a significant impact on the planet, by means of a smaller environmental footprint, less congestion, and contributing to overall safer roads.

"Trucking is one the largest and most critical industries in the US. It is also notoriously inefficient. aifleet's game-changing technology boosts efficiency via the utilization of existing assets - greatly reducing time drivers spend lugging around empty trailers and waiting for their next job. This means more money in the hands of our drivers. It also means significantly less emissions in the mobility sector - which we believe will be one of the last to decarbonize. We're proud to double down on aifleet's mission." — Jeff Peters, Ibex Investors

With this new funding and continued growth, aifleet is solidifying its commitment to creating a trucking industry that is efficient, environmentally responsible, and focused on the well-being of its workforce.

For more information, visit https://aifleet.com/.

About aifleet:

aifleet is building the industry's first full-stack scale-able carrier. Powered by our proprietary AI technology, we optimize plans for higher efficiency to optimize the experience for our hard working drivers and rebuild the industry to benefit people, the planet, and our economy.

About Ibex:

Ibex Investors is a multi-strategy investment firm targeting outsized returns through differentiated global strategies and is passionate about reshaping the investment and investor experience. Entrepreneurs will experience a new type of VC investor in Ibex, partnering with founders from seed to growth and beyond. Ibex prides itself on finding the hidden gems often overlooked by others and invests in both public and privately held companies. For more information, please visit www.ibexinvestors.com.