Stack AV billion dollar driverless truck launch

Stack AV billion dollar driverless truck launch

Business news |
By Nick Flaherty

A group of industry entrepreneurs has launched an autonomous trucking business in the US with $1bn backing from Softbank of Japan.

Stack AV is developing delf-driving technology to improve efficiency and enhance safety in the trucking industry, while tackling supply chain challenges for its partners and their consumers. The company says it has an advanced approach to safe systems design and testing.

It was set up by the founders of Argo AI, an autonomous car startup backed by Ford and Volkswagen which closed last year. Bryan Salesky is CEO of Stack AV, Peter Rander is President and the  Chief Technology Officer is Brett Browning.

It already has 150 employees across its headquarters Pittsburgh, Pennsylvania and in 15 states with a remote-work/co-working collaboration model. SoftBank, which next week will see the initial offering of shares in its ARM subsidiary, has been supporting the company with capital, resources, and deep expertise in AI to help accelerate its growth and technological developments.

Safe and efficient autonomous trucking systems can create smarter supply chains, delivering goods to end-users faster, and ultimately moving the trucking industry forward says the company.

“As consumer consumption patterns evolve, businesses increasingly need AI-driven, intelligent, and reliable supply chains,” said Bryan Salesky, Founder and CEO of Stack AV. “With our proprietary technology and expertise as well as the commitment from our long-term partner in SoftBank, we are confident we will revolutionize the trucking and freight industries by driving improvements in efficiency and safety and alleviating supply chain constraints for our customers, helping them reach their goals and advance their missions.”

Peter Rander, President of Stack AV said, “We could not be more thrilled to unveil our autonomous trucking business to the world. As global commerce continues to become increasingly interconnected, now more than ever businesses have a dire need for more reliable and efficient supply chains, especially in the trucking and freight industries. Leveraging our advanced AI-powered autonomous driving systems, we will improve supply chains for our customers and optimize transportation routes and energy efficiency.”

“The transformative power of AI is undeniable and will have a significant impact on our society,” said Kentaro Matsui, Head of the New Business Office at SoftBank Group and Managing Partner at SoftBank Investment Advisers. “The next decade will be defined by AI, where all social systems will be linked by this technology to solve the most complex societal issues. By applying the strengths of AI-powered technology to the trucking industry, Stack AV will fundamentally change the transportation of goods and supply chains across the globe.”



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