A new self-driving trucks startup called Stack AV has emerged, led by the former founders of Argo AI, Bryan Salesky, Peter Rander, and Brett Browning. Stack AV aims to commercialize self-driving truck technology and has secured Softbank Group as its sole investor. Softbank Group will provide Stack AV with capital, resources, and AI expertise to accelerate its growth and technological advancements. Although the financial terms of the investment were not disclosed, Bloomberg reported that Softbank Group invested $1 billion.
Key Takeaway
Stack AV, a new self-driving trucks startup, has received financial backing from Softbank Group, allowing it to commercialize autonomous trucking technology. With the support of Softbank Group’s capital and AI expertise, Stack AV aims to scale its business and revolutionize the transportation of goods and supply chains globally.
Former Argo AI Founders Experience a Turnaround
The launch of Stack AV, backed by Softbank Group, marks a remarkable turnaround for the former founders of Argo AI. Just 11 months ago, Argo AI had to cease its operations when Ford and VW withdrew their support. This sudden closure surprised the industry as Argo AI was regarded as one of the leaders in autonomous vehicle technology. It also highlighted a shift among certain automakers, who were now focusing on monetizing advanced driver assistance systems instead of autonomous vehicles.
Focus on Commercialization and Expansion
Stack AV, led by CEO Bryan Salesky, President Peter Rander, and CTO Brett Browning, is currently prioritizing the recruitment of talent and conducting tests with their autonomous truck technology. The company has already tested its technology in trucks, utilizing human safety operators behind the wheel for data collection purposes. Stack AV currently employs 150 individuals at its Pittsburgh headquarters and through remote work across 15 states.
Confidence in Success
Despite the challenges facing the self-driving truck industry, Salesky remains confident in Stack AV’s success. He attributes this confidence to the experienced team at Stack AV and the wholehearted support of Softbank Group, which firmly believes in AI’s transformative potential across various industries. Salesky emphasizes that the application of self-driving technology has the power to enhance lives and drive positive change.
While several self-driving truck companies have encountered difficulties, Salesky and his team are optimistic, citing their expertise and Softbank Group’s backing as the key differentiators. With experienced leadership and a committed investor, Stack AV aims to lead the way in the self-driving truck industry, creating new opportunities and propelling humanity forward.
