05 Dec BrightDrop Acquires Marain’s AI Software
Earlier this year, Marain, a California-based simulation as a service EV fleet operation software platform, was acquired by BrightDrop, a technology company created by General Motors with the mission to decarbonize last-mile delivery. It will integrate Marain’s artificial intelligence-powered fleet optimization software into BrightDrop’s ecosystem of last-mile solutions to analyze, forecast and identify multi-modal solutions for fleet customers as they plan their journey to full-fleet electrification.
The move signals BrightDrop’s continued growth and momentum to capture a significant share of the $250 billion last-mile delivery market. “The opportunity to electrify the delivery sector is massive, and it will benefit significantly from sophisticated planning and operations software as fleets introduce multi-modal solutions,” said Damien Scott, CEO and cofounder, Marain. “BrightDrop is extremely well positioned to lead the transformation of first-to-last-mile deliveries with its integrated vehicle, software and services portfolio.”
BrightDrop was launched in 2021 and was incubated at General Motors’ global innovation center. The e-delivery van subsidiary is on track to reach $1 billion in revenue in 2023, a milestone which would make it one of the quickest tech startups to reach unicorn status. The company said that it’s set to generate up to $10 billion in revenue and reach profit margins of 20% by the end of the decade. Travis Katz, BrightDrop president and CEO, said that BrightDrop’s recent expansion into the online grocery sector will help it capture “substantial market share across multiple industries.”
Automobility Ltd is excited that Marain, a startup that has been flagged in our EXCELerate pipeline, has become part of BrightDrop to contribute to the transition to electric fleets easier with integration of predictive analytics, simulation and AI-based optimization technology.
Please contact us at [email protected] if you would like further information on this startup or to learn more about other Auto & Mobility investment opportunities from our EXCELerate opportunity pipeline.