The recent launch of self-driving truck startup Stack AV has caught the attention of industry experts and investors alike. Not only does it bring together the co-founders of Argo AI, a once-promising autonomous driving startup, but it also represents a positive signal for the overall health of the industry.
Trucks Venture Capital’s general partner, Reilly Brennan, believes that Stack AV’s $1 billion investment from SoftBank Group Corp. is one of the most significant events in the automotive technology space in the past year. The return of the Argo AI co-founders, Bryan Salesky, Pete Rander, and Brett Browning, is seen as a sign of renewal for the automated driving industry.
SoftBank’s involvement in Stack AV is also seen as a positive signal. After a period of speculation that SoftBank Group was stepping away from billion-dollar funding rounds, this investment demonstrates their continued commitment to the industry.
However, Stack AV enters the autonomous trucking realm at an uncertain time. While self-driving trucks have the potential to address the shortage of human drivers, they face resistance and regulatory challenges, such as the recent bill in California that aims to prohibit autonomous vehicles from operating without a human driver.
Among Stack AV’s competitors, Aurora Innovation recently sold $820 million worth of stock to strengthen its financial position, while Waymo decided to shift its focus away from self-driving trucks. Despite the challenges, Stack AV sees an imminent need for more reliable and efficient supply chains in the trucking and freight industries.
With test vehicles already on the road, Stack AV has not disclosed a specific timeline for commercial driverless operation. The company currently has 150 employees working at its Pittsburgh headquarters and in 14 other states, utilizing an innovative remote work/co-working collaboration model.
Overall, the launch of Stack AV signifies a positive turn for the autonomous trucking industry. With experienced founders and significant investment backing, the industry’s future appears promising.
– Trucks Venture Capital
– Crunchbase records