Filed under Mobility · 2023
Embark Trucks
2016 - 2023, 7 years old
An autonomous trucking startup building a self-driving software platform for long-haul Class 8 freight.
Embark went public via SPAC in November 2021 at roughly a $5B target valuation, then watched capital markets close on pre-revenue AV plays while truck OEM timelines slipped further out. By March 2023 the company cut seventy percent of staff, told employees it could not find a path forward, and began winding down. Applied Intuition bought the remaining IP and Embark's autonomous program went dark.
- Founded
- 2016-01
- Shut down
- 2023-03-03
- Funding raised
- $614M
- Years alive
- 7
- Founders
- Alex Rodrigues, Brandon Moak