Chattanooga

RueData secures seed round for tire optimization platform

RueData has closed a seed financing round to continue serving over 40,000 vehicles, with plans to use the investment to accelerate adoption of its tire management platform, scale operations and continue innovating its AI-driven fleet optimization solutions for trucking fleets. The round was led by Valor Ventures with participation from Decelera Ventures, Idea Foundry and industry angel investors.

For RueData founder and CEO Sebastian Baquero, the funding, announced Thursday at SXSW in Austin,...

https://www.freightwaves.com/news/ruedata-secures-seed-round-for-tire-optimization-platform

Firecrown acquires EnterTRAINment Junction, plans new interactive transportation museum in Chattanooga, TN

In a move that promises to reshape the landscape of transportation-themed attractions, Firecrown, a leading publisher of transportation and enthusiast titles, has acquired the railroad assets from EnterTRAINment Junction. The company plans to relocate the beloved train exhibits to Chattanooga, Tennessee, as part of an ambitious new transportation museum. Firecrown is the parent company of FreightWaves media. 

EnterTRAINment Junction, the popular family attraction in West Chester, Ohio, known for...

https://www.freightwaves.com/news/firecrown-acquires-entertrainment-junction-plans-new-interactive-transportation-museum-in-chattanooga-tn

Future of Freight Festival will be epicenter of freight world – Day 3

Two weeks from today, “F3: Future of Freight Festival” will begin its third and final day. Located in the heart of Freight Alley and the headquarters city of FreightWaves, Chattanooga will be alive with this unique FreightTech experience.

While FreightWaves has presented major events around the nation, this is the first time it will host an event in Chattanooga. F3 will continue the FreightWaves tradition of bringing together industry leaders to discuss key issues impacting freight markets as...

https://www.freightwaves.com/news/future-of-freight-festival-will-be-epicenter-of-freight-world-day-3

Norfolk Southern helps rescue cavers found in rail tunnel near Chattanooga

A Norfolk Southern spokesman said Saturday he’s unclear whether two cavers will face trespassing charges after they were rescued early Wednesday in a cave located on private property belonging to the railroad near the base of Lookout Mountain in Chattanooga, Tennessee.

Atlanta-based Norfolk Southern (NYSE: NSC) suspended train traffic for 12 hours as its maintenance of way crew aided in the efforts to find Gabriel Vaughn, 21, and Robby Dobos, 23, who were found alive in a remote cave that was...

https://www.freightwaves.com/news/norfolk-southern-helps-rescue-cavers-found-in-rail-tunnel-near-chattanooga

Covenant acquires hazmat hauler, announces $30M stock buyback plan

Covenant Logistics Group announced Thursday it has completed the acquisition of AAT Carriers, which will become part of Covenant’s expedited segment.

Covenant also announced a plan to buy back up to $30 million of its Class A common stock.

“Today’s announcements, along with the recent announcement of our first quarterly dividend, are consistent with our capital allocation strategy and commitment to delivering stockholder value,” David Parker, Covenant’s chairman and CEO, said in a statement....

https://www.freightwaves.com/news/covenant-acquires-hazmat-hauler-announces-stock-buyback

Covenant beats expectations, delivers upbeat forecast

Covenant Logistics Group reported Wednesday after the market close fourth-quarter earnings of $1.07 per share on total revenue of $294.2 million, a 31% increase compared to the same period in 2020.

Covenant beat analysts’ expectations for earnings per share of $1.04 and revenue of $282 million in Q4 2021. It was the second consecutive quarter the company topped estimates for earnings and revenue.

Covenant’s (NASDAQ: CVLG) total freight revenue excluding fuel surcharges increased 27%...

https://www.freightwaves.com/news/covenant-beats-expectations-delivers-upbeat-forecast

ENERGY Transportation Group in top 2% of carriers operating sustainably

Supply chains sustainability trends continue despite the pandemic, according to a report.

Since last Sunday, 39,000 world leaders, diplomats and climate change constituents have flocked to Glasgow, Scotland, for the COP26 climate summit. Amid the logistical hiccups of COVID-19 protocols and restrictions, nations are pledging to reduce emissions, as well as move beyond coal and deforestation. The global financial industry announced the availability of $130 trillion to finance net-zero-emissions projects for both nations and private organizations. 

For many organizations, especially in...

https://www.freightwaves.com/news/energy-transportation-group-in-top-2-of-carriers-operating-sustainably

Dynamo Ventures raises $43M Fund II for FreightTech seed investing

Dynamo Ventures, a supply chain-focused seed stage venture capital fund based in Chattanooga, Tennessee, announced Wednesday that it had successfully raised a $43.21 million Fund II.

That’s more than double the size of Dynamo’s $18 million Fund I, which it raised in 2016 and has now fully deployed into a portfolio of companies. Dynamo said that it will continue to write seed-stage checks, typically between $250,000 and $1.2 million, to FreightTech startups that are looking for product/market fit.

https://www.freightwaves.com/news/dynamo-ventures-raises-43m-fund-ii-for-freighttech-seed-investing

Founders Camp returns to Chattanooga in 2021

In 2018, Smarthop was one of hundreds of startups hoping to carve out a niche in the North American logistics space. The company provides intelligent dispatching services and now offers full-fledged dispatch solutions for over-the-road owner-operators.

The experience the company gained at Founders Camp, powered by Dynamo, proved a crucial rung in Smarthop’s growth trajectory.

“There is no better way to describe Founders Camp other than life changing,” Guillermo Garcia, CEO and co-founder of...

https://www.freightwaves.com/news/founders-camp-returns-to-chattanooga-in-2021

FreightWaves bringing F3: Future of Freight Festival to Chattanooga in November

FreightWaves in-person events quickly became known for their trendsetting experiences since their launch in 2018, but the COVID pandemic forced a change in 2020. While the company switched to virtual events last year, the same on-site experience was missing.

It won’t be later this year. FreightWaves will open the doors to an in-person event with F3: Future of Freight Festival.

FreightWaves will be bringing the F3: Future of Freight Festival to its home city of Chattanooga, Tennessee, on Nov....

https://s29755.pcdn.co/news/freightwaves-bringing-f3-future-of-freight-festival-to-chattanooga-in-november

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