Freight start-up Baton secures funding to develop platform
Baton, which hopes to build a network of freight transfer hubs, announces $10.5m Series A funding round
Baton, a logistics technology platform developed out of 8VC’s Build program, has announced its $10.5 million Series A, co-led by 8VC and Maersk Growth, the corporate venture arm of AP Moller-Maersk
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. Baton claims this will eliminate the two billion hours lost annually due to detention, in-transit dwell and inter-appointment dwell for long-haul trucks.
Baton will sub-lease the drop zones, which will operate continuously, and will also provide the software to coordinate vehicles, drop-zones, warehouses and local drivers through a single API.
Baton said that the funding will be used to hire more engineers and expand Baton’s reach from Los Angeles, where it currently operates, to additional cities across the country within the next 18 months.
"We're excited to bring cutting-edge technology to one of the biggest problems in transportation," said Baton Cofounder Nate Robert. "We have the opportunity to fundamentally change how long-haul trucking works by bifurcating routes into a highway-only segment and a local segment, enabling trucking companies to increase efficiency, improve profit margins and increase driver miles and wages."