There have been some drastic changes in the logistics and shipping industry. This has attracted many investors that are looking forward to invest into industry. And if in the case the trucks in future are approved to be operated commercially, their software and sensors that drive the autonomous technology will have to be kept up to the mark in terms of performance and reliability results.
Samsara, a technology company that deals in hardware and software, is focusing on the development of those products and sensors to keep these fleets smoothly functioning. The tech-startup develops sensors and GPS trackers; for example, the one tracker that calibrates the temperature and sends the data back to the fleet managers in order to ensure everything is smooth on the run.
The company announced that it has bagged a funding of $40 Million at a round that makes the value of the company more than $530 Million. The funding round was led with the participation of General Catalyst and Andreessen Horowitz. From the General Catalyst, Hemant Taneja will join company’s board team as part of funding.
Sanjit Biswas said, “While its products cope well with the fleets that are equipped, there are chances that the similar type of sensors can also be applied in other situations, for example, in manufacturing units, factories or any other applications where there is a need of real-time tracking and data transmission to boost the efficiency of the operations.
Following the whole story of funding and its utilization plans, a question arises, how the company plans to sell those products in the market? Every vehicle breakdown involved in the shipping is a loss to the business specifically when the demand of the customer is short and the shipping time as well. But looking at the positive perspective, it actually means, there is an opportunity available for startups that can develop specialty sensors and tools for those companies that own an enormous fleet but need to work on their efficiencies. Various tools such as dashcams, trackers, and temperature sensors can help to reduce certain problems in vehicles by rectifying the issues in the first step itself.
Samsara will also face some real challenges in the market, as there are some existing sensor providers such as Fleetmatics and Honeywell already dominating the market. On the other hand, the other startups might develop some small and specialized products related to sensor technology.
But currently, the company will focus on its development plan to at least reach at the competing position so as to give a head-to-head fight to the other players.