Motive takes $1.3B as big money moves into AI for old verticals

Crunchbase News reported that Motive, a San Francisco-based fleet management software provider formerly known as KeepTruckin, raised $1.3 billion in private equity funding led by General Catalyst. The company runs an AI-driven platform for transport operations and vehicle management.

The notable detail is where the deal sits in the week: of the four rounds of $1 billion or more recorded by Crunchbase, two went to physical-economy operations — tunnelling and transport — rather than foundation model labs. Large capital is moving to places where AI is attached to operating processes that already carry revenue.