(Yicai Global) Oct. 18 -- Shenzhen-based smart tractor-trailer system supplier SF-Trailernet Technology has received an undisclosed investment amount in its pre-A round from Knorr-Bremse in the German maker of rail and commercial vehicle brake systems' first venture capital investment in commercial vehicles.
SF-Trailernet Technology, founded in March last year jointly by Shenzhen-based CIMC Vehicles and Shenzhen Egocar, is the world's first firm to focus on developing smart tractor-trailers. Its system helps trucking companies manage assets, reduce costs, improve operating efficiency and secure transport.
Formed in 1905, Munich-based Knorr-Bremse is a global leader in rail and commercial vehicle braking systems. It produces highly- competitive electronic brake controllers (ABS/EBS), driver assistance systems and air handling systems. The company achieved a turnover of EUR6.24 billion (USD7.2 billion) last year, among which its China sales topped CNY10 billion (USD1.4 billion).
SF-Trailernet Technology has finalized and released its first-generation products and made them available online. It has become a trailer system supplier to many logistics companies such as Shenzhen-based CIMC and also embarked on business cooperation with J.B. Hunt, the largest multimodal transport company in the US.
The company will have other heavyweight members joining after this round of financing, Fang Xianyang, the company's chairman, told state media Shenzhen Special Zone Daily.
Editor: Ben Armour