Cortado Ventures is pleased to announce it has funded Drov Technologies, based in Oklahoma City. The Seed investment from Cortado is enabling Drov Technologies to continue testing on its flagship product, the AirBoxOne™, and prepare for full commercial launch of its product. Drov’s product has already been installed at four national manufacturers of trailers.
The Cortado Ventures fund is managed by partners Nathaniel Harding, David Woods, and Mike Moradi. The fund invests in early stage companies in a variety of Oklahoma regional sectors by aggregating and managing investor capital, and helps startups grow through seed funding, collaboration, and mentorship. The Cortado partners have launched the venture capital fund to build next generation companies which will bring future-ready technology jobs to the region.
Drov Technologies has developed an all-in-one internet-of-things (IoT) smart trailer solution. The AirBoxOne, combined with their patented tire pressure management system can enable a safer, more efficient, and fully “smart” trailer. The AirBoxOne device can be integrated with a variety of sensors around the trailer and notification platforms to provide a comprehensive snapshot of what’s going on with the trailer at any given point in time. Drov Technologies CEO Lisa Mullen said, “The last five years have brought tremendous innovation to the transportation industry, but the development of trailer technology has lagged other innovations in the trucking industry. We are excited to fully launch a product that can revolutionize the transportation industry and improve efficiency and maintenance. It is our pleasure to partner with strategic investors like Cortado Ventures to scale our product across the country.”
Nathaniel Harding, Managing Partner of Cortado Ventures, said, “Drov Technologies has developed a truly transformative control system with state-of-the-art technology that has the potential to make a tremendous impact on the trucking industry – an industry with an annual revenue of nearly $800 billion in the U.S. Innovation begins with disruption, and Drov Technologies will disrupt the trucking industry with its robust, feature-rich smart trailer solution.”
“We’re pleased to partner with Drov Technologies through our investment and our expanding network,” Cortado Partner David Woods added. “Their traction with strategic partners indicates that their comprehensive smart trailer monitoring technology and understanding of their market segment is fulfilling a real need for the trucking industry across the nation.”
Drov Technologies utilized their years of expertise related to tire inflation systems to expand from a tire inflation company to a technology company seeking to provide a full smart truck and trailer solution for the trucking industry. Drov is currently testing the AirBoxOne on approximately 75 trailers with one of the country’s largest fleets. Cortado Ventures will support the company as it expands and prepares for its full commercial launch, enabling strategic partnerships for the company’s growth and quickly scaling the company with channel partners.
Cortado Ventures is an early stage venture capital firm investing in ambitious, growth-driven companies to define a new generation of economic prosperity for Oklahoma and the immediate region.