Aperia Technologies Secures $16 Million in Additional Funding
Tire inflation systems provider Aperia Technologies announced the company has raised $16 million to fund expansion.
The funding was co-led by Municipal Employee Retirement System of Michigan and eLab Ventures, which has a strong focus on transportation and mobility, according to Aperia.
The funds will be used primarily to invest in sales and marketing and expansion of customer support operations in response to continued customer adoption across industry segments, the Burlingame, California-based company said.
Its Halo Tire Inflator is the only self-powered, bolt-on inflation technology capable of maintaining optimal tire pressure on both drive and trailer axles and serving trucks, trailers and buses, the company said. Operating like a self-winding watch, Halo uses a wheel’s rotation to generate pressure and maintain optimal tire inflation and, therefore, does not require any connection to a central air compressor.
Halo is installed on more than 170 fleets and thousands of tractors and trailers, the company said. Also, Aperia has a new dedicated U.S. manufacturing facility that provides a five-fold increase in the production line footprint and will boost overall production capacity to 250,000 units for 2017.
The company cited upcoming federal greenhouse-gas emissions and fuel-economy standards in 2018 as a tailwind to industry adoption.
Regulators have designated automatic tire inflation systems as integral to improving fuel economy under the rule, it said.
