US-based logistics software provider Fr8 Revolution has obtained $8.5m in series A funding from Man Truck and Bus, a subsidiary of commercial vehicle manufacturer Volkswagen Truck and Bus.
Founded in 2015, Fr8 operates a cloud-based platform that enables logistics providers to manage fleet schedules, identify excess capacity and sell that capacity. The platform offers real-time tracking while drivers can manage routes through a dedicated smartphone app.
Fr8 will use the cash to scale operations and product development. The platform is currently in beta and is expected to be fully launched this summer.
The company has now raised approximately $10m, according to its latest press release, though it has not confirmed details about its seed round.
Fr8 was incubated by BCG Digital Ventures, the incubator of consultancy firm Boston Consulting Group.