Embark Trucks raises Series C funding
Gunderson Dettmer client and self-driving truck company announced its $70 million Series C financing. The fresh funding round was led by Tiger Global with participation from Sequioa, DCVC, YCombinator, SV Angel, Maven Ventures, OMERS Ventures and Mubadala Ventures.
In the announcement of the funding Embark co-founder and CEO Alex Rodrigues said, “This new round comes during a year of rapid growth for Embark. We doubled the size of the team in the last 12 months and released the first disengagement report from a self-driving truck company. In addition to expanding our fleet of 13 trucks and team of 70 employees, Embark will use the cash infusion to power new transfer hubs in Los Angeles and Phoenix. These facilities provide a common location for local drivers to deliver freight where we can stage and inspect trailers before our automated trucks drive them across the country.”
The Gunderson Dettmer deal team was led by Maggie White and included Elaine Strand Sylvester and Jared Mayberry.