Embark Trucks, founded by Alex Rodrigues and Brandon Moak, aims to have driverless trucks in commercial freight by 2023. They have a team of 200 engineers working on safety, electrical, mechanical, and robotics engineering. The founders bonded over their shared passion for robotics and building technology and transitioned from Varden Labs to Embark Trucks due to demand for their self-driving technology in the mining truck industry. Their experience in the Y Combinator (YC) batch program forced them to enter the market, provided access to a valuable network, and gave them the confidence to continue pushing forward. Embark Trucks had a successful experience at YC Demo Day and easily raised their seed round after the acquisition of Cruise. They have a clear vision and perspective on the trucking industry and have hired a world-class team by seeking out real experts in robotics and self-driving technology. Embark Trucks is set to go public through a SPAC merger with Northern Genesis Acquisition Corp. II, raising up to $600 million.
Intro
- Embark Trucks is a company founded by Alex Rodrigues and Brandon Moak that is focused on commercializing self-driving trucks.
- The founders met while studying electronics engineering at the University of Waterloo and dropped out to join Y Combinator (YC) with their self-driving golf cart.
- Embark Trucks currently has over 200 employees and operates trucks across the US Sun Belt.
Embark Trucks' Vision
Embark Trucks' Vision:
Embark Trucks aims to have driverless trucks in commercial freight by 2023. They have a team of 200 engineers working on safety, electrical, mechanical, and robotics engineering. Their plan is to commercialize in 2024, starting in the Sun Belt and expanding to snowy conditions. Founded by Alex Rodrigues and Brandon Moak, the company was originally called Varden Labs.
The Founding Story
The founding story of Embark Trucks revolves around the shared passion for robotics and building technology between Alex Rodrigues and Brandon Moak. Initially, they started by creating various engineering projects for fun, but eventually developed a self-driving golf cart that sparked the idea of a potential business. Joining Y Combinator (YC) made them realize the need to transition into a real business, leading them to apply with their idea and recognizing the potential for their projects to become something more.
Key points:
- Founders bonded over their shared passion for robotics and building technology
- Started by creating various engineering projects without the intention of starting a company
- Developed a self-driving golf cart, which sparked the idea of a potential business
- Joined Y Combinator (YC) and realized the need to transition into a real business
- Applied to YC with their idea and recognized the potential for their projects to become something more.
Going Through Y Combinator with Varden Labs
Embark Trucks founders applied to Y Combinator with the idea of a self-driving electric shuttle, but shifted focus to self-driving trucks. They prioritize building something useful and wanted by people.
- Initially applied with idea of self-driving electric shuttle for campuses
- Shifted focus to self-driving trucks
- Built second vehicle during Y Combinator
- Guiding principle: build something people want and can use
Learnings from YC
The most profound aspect of the learnings from YC is the importance of simplifying and focusing on building technology solutions in complex domains.
- Challenges faced by Embark Trucks' localization system on different university campuses highlight the need for simplification and focus.
- Identifying a well-scoped problem that needs to be solved and has a strong business case is crucial.
- Embark Trucks' initial assumption about universities needing automated self-driving technology for student transportation was inaccurate.
- These learnings helped refine Embark Trucks' business strategy moving forward.
Transition from Varden Labs to Embark Trucks
The transition from Varden Labs to Embark Trucks was driven by the demand for their self-driving technology in the mining truck industry. The founders initially received a cold email from a mine in Australia, which sparked their exploration of opportunities in the mining truck industry. Eventually, they received an offer to develop a self-driving vehicle for a mining truck company, leading to the founding of Embark Trucks. The decision to pivot the business was motivated by the need to show progress and results during the Y Combinator program, and the team wanted to focus on a use case that would make a significant impact. The upcoming demo day is also mentioned.
- Varden Labs transitioned to Embark Trucks due to demand for their self-driving technology in the mining truck industry.
- The founders received a cold email from a mine in Australia, which sparked their exploration of opportunities in the mining truck industry.
- They eventually received an offer to develop a self-driving vehicle for a mining truck company, leading to the founding of Embark Trucks.
- The decision to pivot the business was driven by the need to show progress and results during the Y Combinator program.
- The team wanted to focus on a use case that would make a significant impact.
- The upcoming demo day is mentioned.
Their YC Interview
The YC interview experience of Alex Rodrigues and Brandon Moak, founders of Embark Trucks, is the main topic of the video. They recall their interview as being quick and question-answer focused, leaving them unsure of how it went. Despite being young undergraduates from Canada, they felt comforted by Silicon Valley's acceptance of young founders. They had prepared extensively for the interview and were asked questions they had already anticipated. They discuss their progress during the YC batch and their focus on opportunities during Demo Day. The video features a conversation between Alex Rodrigues, CEO of Embark Trucks, and Brandon Moak, CTO of Embark Trucks, with Geoff Ralston, President of Y Combinator. The discussion revolves around their YC interview and focuses on the progress they have made in the field of self-driving shuttles.
YC Demo Day
Embark Trucks had a successful experience at YC Demo Day, which was further boosted by the acquisition of Cruise, a self-driving car company. The acquisition showed investors the potential value of self-driving technology and led to increased excitement and investment in Embark. The timing of Embark's presentation after Cruise's pitch also worked in their favor. As a result, Embark was able to easily raise their seed round at a favorable price.
- Embark Trucks had a successful experience at YC Demo Day
- The acquisition of Cruise boosted Embark's success
- Investors were impressed by the potential value of self-driving technology
- Increased excitement and investment in Embark
- Timing of Embark's presentation after Cruise's pitch worked in their favor
- Embark was able to easily raise their seed round at a favorable price
Reflecting on the Most Transformative Things for Embark from YC
Embark Trucks' experience in the Y Combinator (YC) batch program was transformative in three key ways:
- Forced them to enter the market and gain valuable insights by attempting to sell their product
- Provided access to a valuable network of individuals who became allies and investors
- Belief and validation from experienced individuals at YC gave them the confidence to continue pushing forward in the challenging field of self-driving technology.
Reflecting on the most transformative things for Embark from YC, the discussion highlights the importance of deeply believing in their potential, the value of Embark as a key exit, and the challenges they face in delivering their product to customers.
How Embark Trucks Came to Be
Embark Trucks, founded by Alex Rodrigues and Brandon Moak, emerged from Y Combinator's campus program and shifted their focus to self-driving trucks. They aim to solve the long-range problem in trucking by implementing a hub-to-hub model. The trucking industry, facing a shortage of drivers and logistical challenges, presents a significant opportunity for innovation. Embark Trucks has maintained a clear vision and perspective on the industry, overcoming challenges in working with the automotive industry. They have gone through a challenging phase of company building, including hiring and fundraising, but have attracted experienced individuals who believe in their potential.
How they Hired a World Class Team
Embark Trucks hired a world-class team by seeking out real experts in robotics and self-driving technology, and showcasing their product's capabilities. They also built relationships based on shared values and attracted high-quality individuals who believed in their mission. The company's strategy of building something tangible and putting it in the hands of people helped them gain credibility and attract top talent.
Key points:
- First software engineering hire had experience running a research program at Volkswagen and building a planner for an OEM self-driving car
- Hired a head of recruiting from Shopify
- Early employees were influenced by the company's pragmatism, shared values, and impressive progress
- Embark's strategy of building something tangible and putting it in the hands of people helped gain credibility and attract top talent
The Lows and Dealing with Adversity
Dealing with adversity in a startup requires adaptability and openness to change. The key points discussed in the video are:
- Choosing a new business direction can be scary and disorienting.
- Navigating through adversity is possible by focusing on an exciting vision.
- Having resources in the bank provides stability during challenging times.
- Working with a team that is enjoyable and supportive is crucial.
- Overcoming challenges requires being adaptable and open to change.
Culture and Working at Embark
The culture at Embark Trucks is characterized by a high degree of ownership, pride, and collaboration. The company values expertise and emphasizes humility and respect. The environment is motivating but challenging due to resource constraints. Exciting plans are in place for the future, particularly in the years 2021 to 2024.
Looking to the Future and Going Public
Embark Trucks, a self-driving truck company, is set to go public through a SPAC merger with Northern Genesis Acquisition Corp. II, raising up to $600 million. The founders of the SPAC are Canadian and the process is nearing completion. In a video conversation, YC President Geoff Ralston discusses the future of hard tech and going public with Embark Trucks' Alex Rodrigues and Brandon Moak.
Key points:
- Embark Trucks is merging with Northern Genesis Acquisition Corp. II in a SPAC transaction.
- The merger will bring in up to $600 million and make Embark Trucks a publicly traded company.
- The founders of the SPAC are Canadian and the final steps of the process are underway.
- YC President Geoff Ralston discusses the future of hard tech and going public with Embark Trucks' Alex Rodrigues and Brandon Moak in a video conversation.
Advice for Future Founders
Question why something wouldn't work and only pursue ideas that pass that test.
Take incremental steps forward and stay aligned with your goals.
Making significant progress is a result of consistent effort and accumulation of small steps.