China’s RenRen invests $1.5M in Trucker Path, a US-based app for truckers

Trucker Path, the San Jose-based startup that helps truck drivers find rest stops and weigh stations through a mobile app, announced yesterday it received US$1.5 million in funding from RenRen, the Chinese internet company best known for its eponymous social network.

Launched in 2013, Trucker Path provides truckers with a crowdsourced map of parking areas, truck washes, petrol stations, and the like. But the future of its business looks to be Truckloads, a separate app (currently invite-only) that connects drivers looking to fill their cargo space with shippers and brokers looking to offload units. In short, it’s Uber’s model, but applied to trucking.

The “Uber for logistics” model has emerged in several forms, both in the North America and in Asia. US startups like Roadie and Kanga, for example, have taken an industry agnostic, peer-to-peer approach to brokerage that resembles UberX or Lyft. Drivers can be certified freight carriers, or a college kid on his way home with trunk space to spare. Meanwhile Trucker Paths’ Truckloads, as well as Keychain Logistics and Traansmission, have each zeroed-in on the professional trucking industry.

In Asia, rival startups Gogovan and Lalamove target intra-city deliveries in vans and motorbikes. The former company received a US$10 million investment last November from RenRen, indicating an imminent launch in mainland China.

It’s possible that RenRen’s investment in Trucker Path signals a broader commitment to logistics, but the firm will regularly make bets on US-based startups, particularly in those that specialize in fintech. Earlier this year, it led a US$10 million investment in policy predictor FiscalNote, a US$5 million investment in mortgage marketplace Sindeo, and a US$40 million investment in stock trading site Motif Investing.

Editing by Paul Bischoff, top image by Jeepers Media