Magna International invests in Peloton's $16 mln Series A round
Peloton Technology, a developer of vehicle systems that deliver advanced safety, fuel savings and analytics to trucking fleets, has obtained US$16 million in a Series A financing. The round was led by DENSO International America and Intel Capital and was joined by several venture capital firms and industry investors, including Canadian automotive supplier Magna International Inc. The Mountain View, California-based Peloton will use the funds to accelerate development of its truck platooning technology for the U.S. and international trucking industries. In 2014, Magna invested in U.S. connected car startup Zubie.
29 April 2015•9 mins read
