The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight a Series E round of funding for KeepTruckin, Workhorse’s legal battle with the U.S. Postal Service and more.
The High Five
1. Fleet management software company KeepTruckin has closed a Series E round managed by BlackRock and several other lead investors for $190 million. The company is now valued at over $2.3 billion, aiming to build the industry’s top fleet management tools for its network of 400,000 vehicles across North America. Grace Sharkey’s story
2. Workhorse Group has sued the U.S. Postal Service over the agency’s awarding of a piece of its $6.8 billion delivery truck contract to Oshkosh Corp., a move Workhorse had been considering since the award was announced in February. John Gallagher from Washington
3. German automotive supplier Robert Bosch will make and sell air compressors to Cellentric, the fuel cell joint venture of Germany’s Daimler Truck AG and Sweden’s Volvo Group AB. Bosch did not disclose contract details other than saying it is a “major order” with a long-term agreement. Alan Adler’s story
4. A zero-emissions last-mile delivery zone is being established in Seattle through the efforts of the University of Washington’s Urban Freight Lab, along with several last-mile delivery and technology companies. The Seattle Neighborhood Delivery Hub will allow companies to test zero-emissions vehicles and other technologies. Brian Straight’s Modern Shipper story
5. The snap decision to jettison thousands of customer sites from its network was an aggressive response to unprecedented volumes and capacity constraints, but FedEx is not alone among less-than-truckload companies in prioritizing freight. Eric Kulisch with the analysis