R - Embark Technology starts trading with hopes of being supply chain hero through self-driving truck software

Embark Technology (NASDAQ:EMBK) calls itself the oldest U.S. self-driving truck software firm and aims to partner with shippers to bring down carrier costs and make roads safer. The company already has notable partnerships with transportation players like Anheuser-Busch InBev (NYSE:BUD), HP Inc. (NYSE:HPQ), Werner Enterprises (NASDAQ:WERN), Ryder (NYSE:R), DHL and Knight-Swift Transportation Holdings (NYSE:KNX). Embark, which in 2018 became the first autonomous trucking software company to complete a cross-county autonomous journey, says it has 14,200 nonbinding reservations for its Embark Universal Interface, a self-driving software package that can be incorporated in International, Freightliner, Volvo and Peterbilt trucks. Embark (EMBK) expects to raise approximately $614M in proceeds from the SPAC deal, including a $200M private investment from Knight-Swift Transportation, Sequoia Capital and Tiger Global. Embark starts trading amid high interest in ways to clear up supply chain and transportation jams. "What we’ve heard from investors is people are really understanding the

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Embark Technology starts trading with hopes of being supply chain hero through self-driving truck software