The recent launch of self-driving truck startup Stack AV, founded by former executives of Argo AI, is seen as a positive sign for the autonomous driving industry as a whole. Reilly Brennan, general partner at Trucks Venture Capital, believes that the $1 billion investment in Stack by SoftBank Group Corp. is one of the most significant developments in automotive technology in the past year.
Bryan Salesky, Pete Rander, and Brett Browning, all formerly of Argo AI, have joined forces to lead Stack AV. Their return to the industry signifies a potential renewal for the struggling automated driving sector. Brennan praises the founders, stating that they have the ability to attract funding even in a challenging market.
The involvement of SoftBank Group in Stack AV is also notable, as it demonstrates the company’s return to billion-dollar funding rounds after a period of apparent withdrawal. SoftBank’s support is seen as a positive sign for the overall health of the autonomous driving industry.
However, Stack AV enters the autonomous trucking market at a time of uncertainty. Although self-driving trucks offer a potential solution to the shortage of human drivers, they face resistance in certain areas such as California. Recent legislation in the state has passed a bill prohibiting autonomous vehicles from operating without a human driver on board.
Despite these challenges, Stack AV remains optimistic about the future of autonomous trucking. The company already has test vehicles on the road and aims to establish commercial driverless operations in the near future. The founders emphasize the need for reliable and efficient supply chains in today’s global commerce environment.
Stack AV currently has 150 employees, with a combination of staff working at its Pittsburgh headquarters and other locations across 14 states, utilizing an innovative remote work and co-working collaboration model.
Sources:
– Reilly Brennan, general partner at Trucks Venture Capital
– Crunchbase records
– SoftBank Group Corp.