Nirvana, a startup focused on AI-based trucking insurance, has successfully raised $80 million in Series C funding to enhance its services for drivers and fleets. This follows a significant growth in its premium management, now exceeding $100 million. Under the leadership of CEO Rushil Goel, the company has doubled its valuation post-Series B, attributed to rising investor interest rather than urgent funding needs. With the U.S. trucking industry generating over $900 billion in revenue and projected growth towards $1.46 trillion by 2035, Nirvana is strategically positioned to capitalize on this expanding market.
'The trucking industry is potentially an enormous market for Nirvana and others. Overall, U.S. trucking generated more than $900 billion in revenues in 2024, accounting for 77% of the freight market in the country,' according to figures from the American Trucking Association.
'Rushil Goel, Nirvana's CEO and co-founder, described the round as "pre-emptive" - raised on the back of inbound interest rather than the startup needing the cash.'
'The investment is coming from three previous backers, with General Catalyst leading and Lightspeed Venture Partners and Valor Equity Partners participating.'
'The investment values Nirvana at $830 million post-money. This is more than double Nirvana's previous valuation of $350 million, dating from when it raised a Series B in October 2023.'
Collection
[
|
...
]