“Our employees are our most important asset, and without them we would not be able to serve our customers,” Brown said. Sid Brown, CEO of NFI, added that Phantom is aligned with NFI’s philosophy of a ‘people-led, technology-enabled’ approach to solutions. Phantom’s solutions are a game-changer for the entire logistics industry.” “Having worked with Phantom for multiple years, we’ve seen firsthand how their technology unlocks new use cases for remote work and accelerates the deployment of automation. “Collaborating with the right technology partners has been key in elevating how we serve our customers and create opportunities for our employees,” commented Newcity. In addition to the funding, Michael Newcity, Chief Innovation Officer of ArcBest and President at ArcBest Technologies, will join Phantom’s Board of Directors. Phantom touts that it can help solve the labor shortage with human-centered remote operation, enabling people to remotely operate forklifts, trucks, robots, and other vehicles from up to thousands of miles away. With thousands of driving jobs unfilled, high turnover, and with challenges from the COVID-19 pandemic, the problem is only getting worse, the company added. The global supply chain faces a critical labor shortage that is estimated to cost the US economy $1 trillion by 2030, Phantom Auto explained. The funding also includes investment from Bessemer Venture Partners, Maniv Mobility, OurCrowd, Perot Jain, Max Blankfeld, and other previous investors. Phantom Auto, a provider of remote operation software for logistics vehicles including lift trucks, has announced a strategic investment of $42 million led by ArcBest, a multi-billion dollar freight and logistics service provider, and NFI, one of the largest third-party logistics providers in North America.ĪrcBest and NFI also executed commercial agreements to deploy thousands of Phantom-powered forklifts in the coming years, Phantom Auto added.
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