After Daimler, With $ 52 Million Funding, Ike to Focus on Self-Driving Trucks

Ike, one of the startup companies involved in developing Self-Driving Trucks have decided to take one step higher in their growth ladder. This major step for Ike comes in the form of the most recent funding round.

The funding, amounting to $52 Million will be invested in a group effort by Bain Capital Ventures, Neo, Basis Set Ventures, Fontinalis Partners, and Redpoint Ventures.

Though, as of this point, it is not quite clear as to what Ike plans to do with this funding money, we can guess of a few immediate action items. The next best steps might include Company Expansion, Adoption of Improved Technical Frameworks, Quantitative and Qualitative Deployment of more test vehicles and acquisition of some of the best human resources.

Since Ike is a budding company, the need to have some of the best minds working on their Self-Driving Technology is a pre-requisite. Expansion in terms of Human Resources may include the creation of a talent pool of people with expertise in Global Business Management, Robotics, Machine Learning, Artificial Intelligence, and other similar work streams.

Similar to the steps taken by Cruise Automation and Zoox in adding globally appreciated Business Leaders to their team, Ike could also be expected to be doing something on similar terms.

Possible expansion of Ike as a company by branching out into more office spaces is yet another action item that could be on the table.

The idea of Ike deploying more Self-Driving Trucks for test rides is higher. This is evident from one of Ike’s blog posts in Medium which points towards the fact that one of the topmost concerns of Ike is in ensuring Road Safety.

self-driving trucks

Source – Medium

Testing forms the most important parameter to ensure the safety of any Self-Driving Vehicle. The most effective and efficient way to test Self-Driving Vehicles is by deploying them on the roads. Deploying Self-Driving Trucks on the road will help Ike analyze, interpret and thereby perfect the behavior of these autonomously maneuvering giants.

According to a report from Trucking, Trucking Industry forms a major part of the U.S. Economy. More than 70% of all freightage moved across the country are through trucks. Hence, Self-Driving Trucks, when implemented efficiently can make major contributions to the U.S. Economy.

Also, if Ike is to establish themselves in the Self-Driving Segment, they will have to put it hard on the pedal in terms of Growth, Technical Advancements, and Deployment. This is so because they will be competing against the likes of established players such as Daimler. Daimler already has a fleet of Level 2 Automated Frieghtliners on the road.