OnTruck raised €17 million in a funding round led by OGCI Climate Investments

OnTruck, a Madrid, Spain-based operator of a road freight experience platform announced securing a capital round of €17 million ($19.3M).

The round was led by OGCI Climate Investments with participation from existing investors Cathay Innovation, Atomico, Idinvest Partners and Total Carbon Neutrality Ventures, and new investor Endeavor Catalyst.

The proceeds will be used for accelerating the company's development of its transport network and technology developing, implementing and scaling innovative low carbon solutions in commercial transportation.

OnTruck, founded in 2016 and led by CEO Iñigo Juantegui, is providing access to of a freight delivery platform designed to connect businesses with road freight companies. The company's on-demand platform fully automates the process of matching a shipment to the right truck as well as offers instant pricing, precise pick-up slots and a real-time tracking service of the status of each shipment, enabling businesses to find he right carrier and manage deliveries in a smart and friction-less way.

Prior to this round, OnTruck secured roughly $40 million.