Traxen

AI-driven cruise control for trucking fleets

Plymouth Township, Michigan, United States

About Traxen

Traxen enhances fuel efficiency and safety for truck drivers with its intelligent cruise control system designed for commercial trucking fleets. The system integrates onboard sensors, external sensors, and cabin cameras to optimize driving conditions. By using this cloud-connected technology, drivers can reduce fuel consumption by up to 10%, saving an average of $6,000 annually per truck. Traxen's product also improves drivability by providing meaningful alerts to drivers, creating a safer and more relaxed driving environment. Unlike many competitors, Traxen focuses on advanced driver-assistance systems (ADAS) to promote a defensive driving style, minimizing unnecessary warnings. The company's goal is to support trucking companies in reducing operational costs and enhancing safety, with plans for potential global expansion.

Plymouth Township, MichiganHeadquarters
2018Year Founded
$2.9MTotal Funding
SEEDCompany Stage
Automotive & Transportation, AI & Machine LearningIndustries
11-50Employees

Risks

Competition from Tesla and Waymo threatens Traxen's market share in AI transportation.
Rapid AI advancements may render Traxen's solutions obsolete without quick innovation.
Cybersecurity vulnerabilities in cloud-connected systems could impact Traxen's customer trust.

Differentiation

Traxen specializes in AI-driven intelligent cruise control for commercial trucking fleets.
The company integrates onboard sensors, external sensors, and cabin cameras for optimal driving.
Traxen's system reduces fuel consumption by up to 10%, saving $6,000 annually per truck.

Upsides

Increased adoption of electric trucks boosts demand for Traxen's energy-optimizing solutions.
5G technology enhances real-time data processing for Traxen's cruise control systems.
Regulatory pressure for reduced emissions aligns with Traxen's fuel efficiency offerings.

Funding

Total raised$2.92 M
Latest valuation$15.00 M
StageSEED
SEED
6/30/2018
$3
$15.00 M