HAMILTON, Ontario--(BUSINESS WIRE)--Jun 11, 2025--
MesoMat, a startup transforming tires into data-rich, connected devices, today announced it has raised a Seed Round led by Ridgeline with participation from RISC Capital, RPV Global, GTAN including the Archangel Network’s Adrenaline and Starforge Funds, Extra Innings Ventures and others. The funding will support MesoMat as the company accelerates commercialization, expands hardware production, and continues the development of its proprietary tire management platform, which helps vehicle fleets optimize performance, reduce downtime and curb carbon emissions.
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“We’re excited to partner with a group of investors who share our vision for revolutionizing how fleets approach tire management,” said Paul Fowler, Co-Founder and CEO of MesoMat. “By digitizing the tire—the only part of a vehicle that touches the road—we give the vehicle a sense of touch. Through the tire, MesoMat extracts data that helps fleets manage payload, optimize routing, improve efficiency and reduce two of their largest expenses: fuel and tires.”
MesoMat’s technology integrates advanced sensors within tires, capturing real-time data on tread depth, tire pressure, and rubber-road interactions. Leveraging cloud-based analytics, MesoMat transforms these data streams into actionable insights that allow drivers, fleets, and service providers to track tread depth, achieve optimal tire pressure, reduce wear, and prevent costly failures. This enhanced visibility translates into improved safety, better fuel economy, and a measurable reduction in carbon emissions—critical in an industry facing steep challenges related to electrification and hydrogen infrastructure.
Among MesoMat’s customer base are several of the largest vehicle fleets in North America, leading tire manufacturers, major tire dealerships and a top global truck manufacturer.
Addressing a Large-Scale Problem
Currently, there are estimated to be over 300 million commercial tires on the road worldwide, yet most remain undigitized, limiting their potential to contribute to smarter, more efficient fleet operations. Further, with tire performance directly impacting up to 10% of a vehicle's carbon emissions, MesoMat’s solution targets one of the most significant levers for improving fuel efficiency. As full electrification and hydrogen-based solutions may still be years away, MesoMat offers a near-term strategy for the trucking and heavy-vehicle industry to trim costs and reduce emissions.
Backed by Prominent Investors
Along with Ridgeline, prominent investors such as RISC Capital, GTAN, and RPV have joined the round, underscoring confidence in MesoMat’s potential to transform tire management across industries including long-haul trucking, mining, tire manufacturing, and more.
“MesoMat is tackling one of the most pressing challenges in commercial trucking by bridging the gap between outdated manual processes and the data-driven insights fleets need to succeed,” said Ryan Clinton, Managing Partner at Ridgeline. “We believe Paul and his team have the expertise to redefine how fleets manage tire-related costs in a sector that’s overdue for modernization.”
A World-Class Team
Co-founded by Paul Fowler, whose background includes a Master’s degree in physics, research at world-leading institutes, and prior experience as the first employee at a Y Combinator–backed data-services startup, MesoMat boasts a robust team of engineers and data scientists. The company’s Co-Founder and CTO, Kari Dalnoki-Veress, is a leading expert on the physics of rubber, and recent hires bring experience in trucking and logistics—all focused on innovating the way fleets operate.
“Our mission is to digitize the tire to bring intelligence to a critical component of the global supply chain that we depend on to move goods worldwide,” added Fowler. “Whether it’s long-haul trucking, last-mile delivery, or heavy-duty mining, we want to help drive down costs, reduce downtime and cut emissions. We're proud of the product and exceptional team we’ve built to make this vision a reality.”
About MesoMat
MesoMat is on a mission to revolutionize tire management. MesoMat combines proprietary hardware with cloud based software to transform the tire into a connected device with 24/7 tracking of pressure, temperature, tread depth, vehicle load and more. MesoMat’s platform helps fleets cut costs, reduce downtime, improve safety, and meet growing environmental targets. Learn more at mesomat.com.
Paul Fowler (left) and Kari Dalnoki-Veress (right), co-founders of MesoMat.
WASHINGTON (AP) — Venezuelan opposition leader María Corina Machado said she presented her Nobel Peace Prize medal to President Donald Trump at the White House on Thursday even as he has questioned her credibility to take over her country after the U.S. ousted then-President Nicolás Maduro.
The Nobel Institute has said Machado could not give her prize to Trump, an honor that he has coveted. Even if it the gesture proves to be purely symbolic, it was extraordinary given that Trump has effectively sidelined Machado, who has long been the face of resistance in Venezuela. He has signaled his willingness to work with acting President Delcy Rodríguez, who had been Maduro’s second in command.
“I presented the president of the United States the medal, the Nobel Peace Prize," Machado told reporters after leaving the White House and heading to Capitol Hill. She said she had done so "as a recognition for his unique commitment with our freedom.”
Trump has raised doubts about his stated commitment to backing democratic rule in Venezuela, giving no timetable on when elections might be held. Machado indicated that he had provided few specifics on that front during their discussion.
She did not provide more information on what was said, and the White House did not say if Trump accepted the medal or offer other details of its own.
After a closed-door meeting with Trump, Machado greeted dozens of cheering supporters waiting for her near the White House gates, stopping to hug many.
“We can count on President Trump,” she told them without elaborating, prompting some to briefly chant, “Thank you, Trump.”
Before her visit to Washington, Machado had not been seen in public since she traveled last month to Norway, where her daughter received the peace prize on her behalf. She had spent 11 months in hiding in Venezuela before she appeared in Norway after the ceremony.
The jubilant scene after her meeting with Trump stood in contrast to political realities in Venezuela. Rodríguez remains in charge of day-to-day government operations, along with others in Maduro’s inner circle. In her first state of the union speech Thursday, the interim president promoted the resumption of diplomatic ties between the historic adversaries and advocated for opening the state-run oil industry to more foreign investment after Trump pledged to seize control of Venezuelan crude sales.
Trump has said it would be difficult for Machado to lead because she “doesn’t have the support within or the respect within the country.” Her party is widely believed to have won 2024 elections rejected by Maduro.
White House press secretary Karoline Leavitt called Machado “a remarkable and brave voice” but also said the meeting didn’t mean Trump’s opinion of her changed, calling it “a realistic assessment.”
Leavitt told reporters that Trump supported new Venezuelan elections “when the time is right” but did not say when he thought that might be.
Leavitt said Machado had sought the face-to-face meeting without setting expectations for what would occur. She spent about two and a half hours at the White House.
“I don’t think he needs to hear anything from Ms. Machado," the press secretary said while the meeting was still going on, other than to have a ”frank and positive discussion about what’s taking place in Venezuela.”
After leaving the White House, Machado went on to a closed-door meeting with a bipartisan group of senators.
Sen. Chris Murphy, D-Conn., said Machado told them that “if there’s not some progress, real progress towards a transition in power, and/or elections in the next several months, we should all be worried.”
“She reminded us that Delcy Rodríguez is, in many ways, worse than Maduro,” he added.
Asked if Machado had heard any commitment from the White House on holding elections in Venezuela, Murphy said, “No, I don’t think she got any commitment from them."
Sen. Bernie Moreno, an Ohio Republican, was exultant following the meeting, saying Machado "delivered a message that loud and clear: What President Trump did was the most important, significant event in Latin America. That getting rid of Maduro was absolutely essential.”
Machado's Washington stop coincided with U.S. forces in the Caribbean Sea seizing another sanctioned oil tanker that the Trump administration says had ties to Venezuela. It is part of a broader U.S. effort to take control of the South American country’s oil after U.S. forces captured Maduro and his wife less than two weeks ago at a heavily guarded compound in the Venezuelan capital of Caracas and brought them to New York to stand trial on drug trafficking charges.
Leavitt said Venezuela's interim authorities have been fully cooperating with the Trump administration and noted that Rodríguez's government said it planned to release more prisoners detained under Maduro. Among those released were five Americans this week.
Trump said Wednesday that he had a “great conversation” with Rodríguez, their first since Maduro was ousted.
Just hours after Maduro's capture, Trump said of Machado that “it would be very tough for her to be the leader.” Machado had steered a careful course to avoid offending Trump, notably after winning the peace prize, and had sought to cultivate relationships with him and key administration voices like Secretary of State Marco Rubio.
The industrial engineer and daughter of a steel magnate, Machado began challenging the ruling party in 2004, when the nongovernmental organization she co-founded, Súmate, promoted a referendum to recall then-President Hugo Chávez. The initiative failed, and Machado and other Súmate executives were charged with conspiracy.
A year later, she drew the anger of Chávez and his allies again for traveling to Washington to meet President George W. Bush, whom Chávez considered an adversary.
Almost two decades later, she marshaled millions of Venezuelans to reject Chávez’s successor, Maduro, for another term in the 2024 election. But ruling party-loyal electoral authorities declared him the winner despite ample credible evidence to the contrary. Ensuing anti-government protests ended in a brutal crackdown.
Garcia Cano reported from Caracas, Venezuela. Associated Press writers Lisa Mascaro, Stephen Groves, Michelle L. Price and Matthew Lee in Washington, and Megan Janetsky in Mexico City contributed to this report.
Venezuelan opposition leader Maria Corina Machado is welcomed at the Capitol before a meeting with senators, from left, Sen. John Curtis, R-Utah, Sen. Ruben Gallego, D-Ariz., Sen. Dick Durbin, D-Ill., Sen. Alex Padilla, D-Calif., and Sen. Chris Murphy, D-Conn., as the Nobel Peace Prize recipient visits American leaders two weeks after President Donald Trump toppled Venezuelan president Nicolas Maduro in a stunning military raid, at the Capitol in Washington, Thursday, Jan. 15, 2026. (AP Photo/J. Scott Applewhite)
Venezuelan opposition leader María Corina Machado, center, leaves the Capitol, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Allison Robbert)
Venezuelan opposition leader Maria Corina Machado, center, is welcomed by Sen. Dick Durbin, D-Ill., left, Sen. Ruben Gallego, D-Ariz., far left, and Sen. Alex Padilla, D-Calif., right, as the Nobel Peace Prize recipient visits American leaders at the Capitol in Washington, Thursday, Jan. 15, 2026. (AP Photo/J. Scott Applewhite)
Venezuelan opposition leader María Corina Machado gestures to supporters on Pennsylvania Avenue as she leaves the White House after meeting with President Donald Trump Thursday, Jan. 15, 2026, in Washington. (AP Photo/Pablo Martinez Monsivais)
Venezuelan opposition leader María Corina Machado waves to supporters on Pennsylvania Avenue as she leaves the White House after meeting with President Donald Trump Thursday, Jan. 15, 2026, in Washington. (AP Photo/Pablo Martinez Monsivais)
Venezuelan opposition leader María Corina Machado smiles on Pennsylvania Avenue as she leaves the White House after meeting with President Donald Trump Thursday, Jan. 15, 2026, in Washington. (AP Photo/Pablo Martinez Monsivais)
Venezuelan opposition leader María Corina Machado waves to supporters on Pennsylvania Avenue as she leaves the White House after meeting with President Donald Trump Thursday, Jan. 15, 2026, in Washington. (AP Photo/Pablo Martinez Monsivais)
FILE - U.S. President George Bush, right, meets with Maria Corina Machado, executive director of Sumate, a non-governmental organization that defends Venezuelan citizens' political rights, in the Oval Office of the White House, Washington, May 31, 2005. (AP Photo/Charles Dharapak, File)
FILE - Opposition leader Maria Corina Machado gestures to supporters during a protest against President Nicolas Maduro the day before his inauguration for a third term, in Caracas, Venezuela, Thursday, Jan. 9, 2025. (AP Photo/Ariana Cubillos, file)
