On November 28, 2024, Class8 (formerly FleetOps), a company leveraging OEM-integrated artificial intelligence (AI) technology to streamline operations, enhance profitability, and utilize data for the trucking industry, announced the completion of its C$30.8 million Series A funding round. The all-equity round primarily involved US investors, led by Xplorer Capital with participation from Commerce Ventures and return investors Inspired Capital and Resolute Ventures. Canadian firms BCF Ventures and Panache Ventures also contributed, following their investments in Class8’s seed round.
Class8 operates as a freight marketplace matching truck drivers with shipment opportunities using vehicle data and AI. Its platform offers transport trucking companies features like tracking, vehicle inspection reporting, fuel profitability calculations, and automated scheduling for drivers. The investment proceeds will be primarily directed towards product expansion.
Fasken advised Class8 with a team consisting of Will Shaw, Alec McIlwraith-Black and Satnam Singh Dosanjh.
Jurisdiction
- Ontario
