Peloton Technology, an automated vehicle technology company focused on trucking, is on the verge of closing a $60 million Series B funding round led by Omnitracs, a fleet services company that spun out of Qualcomm.
The round includes existing investors Intel Capital, DENSO International America, Castrol innoVentures, Lockheed Martin, Nokia Growth Partners, UPS Strategic Enterprise Fund, Volvo Group Capital, Sandhill Angels, Band of Angels and Birchmere Ventures, Peloton Technology CEO and co-founder Josh Switkes confirmed to Fortune on Wednesday.