ArcBest announced Wednesday a $25 million investment in Phantom Auto, a software company providing remote operation of a variety of vehicle types, including forklifts, robots and trucks.
In addition to leading Phantom Auto’s series B funding round, ArcBest will get a seat on its board, which will be filled by Michael Newcity, ArcBest’s chief innovation officer and head of ArcBest Technologies.
Phantom Auto has raised $64 million in funding since its 2017 launch, according to PitchBook.
The...
https://www.freightwaves.com/news/arcbest-invests-25m-in-remote-vehicle-operation-tech-company