Aperia Technologies Secures Funding to Accelerate Growth
BURLINGAME, Calif.--(BUSINESS WIRE)--May 21, 2019--
Aperia Technologies Inc., the leading supplier of tire management technologies that improve the safety and efficiency of commercial vehicles, today announced a $36 million Series C1 investment led by new investors Blackhorn Ventures and Tenfore Holdings, with significant participation from existing investors.
“Aperia is better positioned now more than ever before to continue its mission to make transportation safer and more efficient,” said Josh Carter, CEO of Aperia Technologies. “This capital will help Aperia scale its recently introduced Halo Connect tire analytics platform, expand into new global markets, and enable the continued progression toward a connected and autonomous future.”
Aperia has won the trust of some of the most prominent commercial vehicle fleets across the United States with its flagship Halo® Tire Inflator technology. The recent introduction of Halo Connect utilizes proprietary algorithms trained over more than half a decade and a billion miles to sense and detect tire health issues before they become severe. When used together fleets can virtually eliminate unplanned tire-related downtime and CO2 emissions caused by tire under-inflation.
“With its Halo Tire Inflator technology, Aperia has created a unique solution that can help truck makers and fleet managers operate safer and more efficient vehicles,” said Dan Levine, Managing Partner at Tenfore Holdings. “Aperia’s sensors and software provide various types of data that have heretofore been largely inaccessible. Opening up insights from this data can allow trucking companies, tire manufacturers, and other auto parts makers to accelerate the shift to connected vehicles and predictive maintenance.”
According to the Environmental Protection Agency (EPA), transportation is the nation’s largest producer of greenhouse gas emissions, and within this sector heavy-trucks are the second largest and fastest growing segment in terms of emissions and energy use. Aperia has been initially focused on delivering environmental innovation to the commercial trucking space, with opportunity to adapt its technology across broader vehicle segments.
“Aperia’s focus on delivering solutions for the transportation sector, that deliver both a strong return on investment for their customers and positive externalities, is strongly aligned with our investment strategy,” said Trevor Zimmerman, Managing Partner of Blackhorn Ventures. “Blackhorn invests in visionary companies leveraging breakthroughs in engineering and innovative business models to drive new standards of efficiency in industrial sectors – that’s exactly what Aperia is doing.”
For more information, visit www.aperiatech.com.
About Aperia Technologies, Inc.
Aperia Technologies innovates to make transportation more efficient, safer, and better for the environment. The company’s Halo® Tire Inflator and related products improve fuel economy and road safety while reducing tire expenditures, downtime, and maintenance costs for commercial fleets. Aperia partners with tire manufacturers and fleets to offer industry-leading technology that gives our partners a competitive advantage. For more information, visit www.aperiatech.com.
About Blackhorn Ventures
Blackhorn Ventures invests in companies advancing breakthrough technologies and innovative business models to unlock transformative efficiency improvements in industrial sectors. Built upon the ICT revolution and creative thinking, these companies are rapidly transforming industrial sectors, while also achieving outsized environmental and sustainability impacts. Founded by experienced operators and investors, Blackhorn has a founder-friendly ethos, providing maximum support with minimum interference. Visit www.blackhorn.vc to learn more.
About Tenfore Holdings
Tenfore Holdings is an investment management firm that provides operational value-add to growth-stage companies where technology plays a transformative role. Tenfore focuses on equity/debt investments where their operating experience and strategic relationships can enhance value. Tenfore has extensive experience operating at scale and understands how to build smaller enterprises to scale. By providing capital, strategic guidance at the board level, and operational support to talented managers, Tenfore helps companies realize their full revenue, profit and market-value potential for the long-term.
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CONTACT: Judith Monte
Vice President of Marketing
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE TRANSPORT TRUCKING AUTOMOTIVE FLEET MANAGEMENT ENVIRONMENT TIRES & RUBBER
SOURCE: Aperia Technologies, Inc.
Copyright Business Wire 2019.
PUB: 05/21/2019 10:53 AM/DISC: 05/21/2019 10:53 AM