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Venture Capital News: Baton Announces $10.5M Series A Funding

2021-03-25
SAN FRANCISCO, CA, Baton, a logistics technology platform developed out of 8VC's acclaimed Build program, announced its $10.5 million Series A today.
The Series A Round was co-led by 8VC and Maersk Growth--the corporate venture arm of AP Moller-Maersk, the global leader in transportation and logistics. Baton both paves the way for the adoption of autonomous vehicles in trucking and solves the largest and most well-known problem in the industry: the over two billion hours lost annually due to dwell and detention.

8VC and Maersk Growth were joined in this round by add on from Prologis, the largest real estate company in the world; Ryder, one of the largest logistics and transportation companies in North America; Lineage Logistics; Jett McCandless, CEO of Project44; Shoaib Makani, CEO of KeepTruckin; John Larkin, Operating Partner at Clarendon Capital; Trace Haggard, Founder of I.S.G.; and Cooley LLC.

Baton's technology platform enables long-haul truckers to drop off and pick up loads at Baton drop zones in major metro areas, and then a network of local fleets does the first and final mile of delivery to warehouses. This completely eliminates the wasted hours associated with detention, in-transit dwell and inter-appointment dwell for long-haul trucks. Additionally, it increases wages for drivers, reduces carbon emissions and, furthermore, enables highway-only autonomous trucks to hand off loads to human drivers for the first and final mile.
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