Nevzat Atakli

NewSpring Leads $26.5 Million Growth Financing Round for Trio Mobil

In a major development for the technology industry, NewSpring has led a $26.5 million growth financing round for Marietta, Ga.-based Trio Mobil. The company specializes in developing workplace safety and efficiency solutions using AI and Internet of Things devices.

The investment was made through NewSpring Growth, the Radnor, Pa.-based investing firm’s arm that focuses on providing working capital to fast-growing technology companies. Other participants in the financing round included two prior investors — Luxembourg-headquartered 212 and TIBAS Ventures, the investing arm of Isbank, Turkey’s largest private bank.

Trio Mobil, led by co-founder and former Ford executive Nevzat Atakli, offers a suite of solutions that enhance the safety and efficiency of logistics in warehouses and on highways. The company boasts over 2,000 customers, including major names like Coca-Cola, Unilever, and Mercedes-Benz, who use more than 500,000 connected devices.

“This funding marks a pivotal moment for Trio Mobil. It highlights the transformative potential of our AI and IoT solutions in enhancing workplace safety and operational efficiency,” said Atakli, a software and diagnostics engineer.

NewSpring, founded in 1999 by Michael DiPiano and Marc Lederman, manages about $3.5 billion across five distinct strategies. The firm has been on a fund-raising spree this year, celebrating its 25th anniversary in business. With recent fund closures totaling nearly a billion dollars, NewSpring continues to support visionary founders and entrepreneurs in the technology sector.