But soaring costs and regulatory uncertainty have prevented these companies from fully commercializing their solutions, even with consolidation in the space. Former market leader Argo AI even shut down in October, despite billion-dollar investments from Ford and Volkswagen.

Most recently, GM’s Cruise reported disappointing numbers, losing $561M in Q1’23 on $30M in revenue. The results fuel growing concerns around the viability of robotaxis.

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E-commerce fulfillment & logistics providers help retailers quickly and easily fulfill online orders through a suite of offerings. Services can include access to fulfillment centers to enable distributed inventory, express shipping, order and inventory management, and reporting and analytics dashboards.

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As it looks to adapt to the changing logistics landscape — which is recovering from pandemic-related supply chain shortages and facing increased demand for faster, cheaper shipping — Ryder is spearheading advances in supply chain & logistics tech.

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In this hot climate tech environment, big tech companies Microsoft, Amazon, and Google have stepped up their efforts in climate tech product development, investment, and partnerships.

Download the report to find out:

• How each giant intends to tackle their ambitious net-zero carbon emissions goals
• How big tech companies are adding new carbon accounting and climate risk analysis features to their platforms
• The areas of climate tech where big tech is investing
• Where each big tech company is headed in the climate tech space

Report Highlights:

• Big tech has set ambitious net-zero goals and players are working toward reducing their carbon footprint. While all 3 giants have made net-zero commitments, Microsoft is the most aggressive, with the goal to be carbon negative by 2030.
• Big tech is vying for a piece of the climate tech software market. In particular, Microsoft and Google have launched carbon accounting software offerings for subsets of their existing users.
• Climate tech investment is heating up. For all 3 incumbents, climate tech is an investment area of growing importance. Amazon and Microsoft have launched funds focused exclusively on climate tech, while Google has created an accelerator focused on climate tech startups.

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However, the Covid-19 pandemic brought significant disruption to the global shipping industry. Companies faced canceled flights and sailings, delays at ports, and widespread shortages of both workers and containers. Supplier delivery times increased dramatically, and despite port productivity in line with or above pre-pandemic levels, shipping vessels still sat idle 2X–3X longer than pre-pandemic times.

<span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div class="cta-desktop center-copy "><h4>the state of Supply Chain & Logistics Tech q1 2022</h4>
<p>Total supply chain funding remains elevated in Q1’22. Get the report to learn more.</p>
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<span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div class="cta-desktop center-copy "><h4>the state of Supply Chain & Logistics Tech q1 2022</h4>
<p>Total supply chain funding remains elevated in Q1’22. Get the report to learn more.</p>
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The company has seen substantial runway, despite an automotive supply chain crisis and a rising crop of new competitors building electric vehicles.

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The post Rapido, an India-based bike taxi marketplace, raises from Swiggy at an $830M valuation. Rapido competitors include Baxi, Bounce, Bikxie, RentOnGo, and ONN Bikes. appeared first on CB Insights Research.

While the company’s revenue dropped from 2018 to 2020, it rebounded to surpass $68B in 2021. This growth has largely been driven by the decreasing cost of electronics, the company’s sustainability initiatives, and the pandemic-induced rise in demand for industrial equipment, automation, and other technologies central to digital transformation.

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The company is currently undergoing a multiyear strategic shift to become the largest semiconductor firm once again by 2025, after Samsung Electronics bumped it down to second place in 2021. In addition to doubling down on investments in advanced technologies to expand into emerging sectors, it’s starting a foundry service (where it produces chips designed by other companies) and working more closely with equipment manufacturers like ASML.

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How’s the company performing?

• Peru-based Leasy provides automobile financing to ride-hailing drivers in Latin America.
• The startup witnessed 170% year-over-year revenue growth in 2021.
• Since its launch, the company has underwritten 370+ loan contracts, and it now has a waiting list of 1,500+ people.
• Leasy partnered with Uber in 2019 to find potential drivers and collect data.

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Instead, the pandemic highlighted the need for the smart city technology stack — a complex web of infrastructure and systems-of-systems that uses data from sensors and other connected devices to address urban issues such as health, safety, and sustainability — and accelerated the timeline for its implementation. 

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Amazon has been investing and partnering heavily across transportation and logistics over the last 3 years to expand, streamline, and optimize its existing operations and enter new lines of business. Some of these new revenue opportunities include mobility-as-a-service, grocery delivery, connected vehicle tech, and other technologies shaping the future of transportation and logistics.

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HOW’S THE COMPANY PERFORMING?

• San Francisco-based CloudTrucks helps owner-operators manage cash flow, costs, insurance, and bookings.
• The platform’s trucking load volume has grown 8x since last year.
• The startup generates revenue by taking 6–15% of each driver’s earnings — it has experienced 9.5x revenue growth since December 2020.
• The company operates in the US.

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HOW’S THE COMPANY PERFORMING?

• Dubai-based iMile is a logistics and delivery services provider that connects Chinese sellers to emerging markets.
• The company got its start offering last-mile delivery solutions designed to address the “no-address problem” in the Middle East.
• It has hired 100 engineers in China.
• Shein, Zain, Tila, and Sun&Sand Sports are included among its clients.

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HOW’S THE COMPANY PERFORMING?

• Australia-based Zoomo provides enterprises with electric bike fleets as well as fleet management software. The company also operates a B2C business, providing individual couriers with work vehicles suitable to their needs.
• The company states that its UK business has grown 7x since July 2020 and is likely to grow an additional 20x by the end of the year.
• Zoomo operates in the UK, the US, and Australia and has recently expanded into new cities within those markets, such as Manchester, Chicago, Valencia, Paris, and Stuttgart.
• The company’s customers include Domino’s, Pizza Hut, Amazon Wholefoods, UberEats, Doordash, JustEat Takeaway, and Deliveroo.

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Autonomous trucks aren’t yet commonplace on the world’s highways, but recent advances in autonomous trucking technologies mean that self-driving trucks could soon become a vital part of modern logistics operations — and an everyday sight for millions of motorists. Autonomous trucking could hugely increase efficiency and reduce costs, as well as help shore up critical weaknesses in many supply chains that cause shortages during disruptions like the Covid-19 pandemic.

Investors are starting to pay more attention to the space, backing increasingly larger deals to autonomous trucking startups in recent years.

Some recent developments in autonomous logistics are transforming trucks themselves, as auto manufacturers envision a future in which truckers’ cabs serve as mobile offices, fully connected to the grid via 5G and other wireless networking technologies. But beyond the vehicles, an entire industry of supportive technologies has emerged to provide solutions for logistics and goods haulage, from fleet management to freight matching. 

Together, these technologies can help move everything from food to manufacturing materials to impulse e-commerce purchases, while minimizing the need for human oversight.  

Below, we examine 60+ established and emerging companies in the autonomous trucking space. Featured companies are organized by technology and ordered by total disclosed funding.

Table of contents 

• Automated driving
• Fleet management
• Freight matching
• Freight tracking & visibility

Note: This list is not exhaustive of every company in the space. Companies may span multiple categories. 

Automated driving

Automated driving technologies represent one of the most significant areas of opportunity for investors and hauliers alike. However, while the opportunities and potential market are considerable, so too are the barriers to entry. R&D costs for autonomous driving systems can be very high, and competition in the space is already intense. 

Emerging startups hoping to make a disruptive impact in this space will have to work hard to differentiate themselves from the competition and earn their place in the rapidly growing automated trucking ecosystem.

Waymo

Total funding raised: $5.7B

Stage: Unattributed VC

Year founded: 2009

Country: USA

Recent partners: Ryder System, Daimler, Fiat Chrysler

Alphabet subsidiary Waymo is a self-driving technology company that began as the Google self-driving car project in 2009. The company is perhaps best known for its commercial self-driving taxi service, “Waymo One,” which operates in the greater Phoenix, AZ area. More recently, it has been making overtures in San Francisco and New York City.

Beyond this service, the Waymo Via program focuses on autonomous trucking for freight transportation. In summer 2021 the company announced plans to scale up its autonomous trucking operations, building out a trucking hub in Dallas and partnering with Ryder for fleet management.

Backed by heavy hitters like Alphabet, Google, Andreessen Horowitz, T. Rowe Price, Tiger Global Management, and more, the company has raised a whopping $5.7B in VC funding, making it far and away the most well-capitalized autonomous trucking player on this list.

Plus

Total funding raised: $842M

Stage: Option/Warrant

Year founded: 2016

Country: USA

Recent partners: Amazon, Goodyear

Plus made headlines in late 2019 when it announced it had completed a record 2,800-mile cross-country freight run across the US in just 3 days. The company has partnered with Chinese logistics firm SF Holding Co. to test its technologies on roads across China, and the country’s state-run automotive manufacturer FAW Group intends to begin mass-producing Plus-enabled vehicles throughout 2021. 

Plus’ automated driving technologies have attracted the interest of Amazon, which recently ordered 1,000 of Plus’ autonomous driving systems for use in its logistics fleet as well as the rights to roughly 20% of Plus’ preferred shares. 

TuSimple

Total funding raised: $651M

Stage: Public (IPO) 

Year founded: 2015 

Country: USA

Recent partners: Navistar, Liberty Mutual, Scania

TuSimple, co-founded by artificial intelligence (AI) and machine learning expert Dr. Xiaodi Hou in 2015, develops its own proprietary automated vehicle guidance system. It also manufactures purpose-built autonomous trucks in partnership with OEMs Navistar and TRATON. 

The company’s self-driving trucks have already completed several long-haul journeys, using Ryder truck depots as terminals. TuSimple raised $1.35B as part of its IPO in April 2021.

Source: CNBC

Inceptio Technology

Total funding raised: $491M

Stage: Series B

Year founded: 2018

Country: China

Shanghai-based Inceptio Technology is developing technology to support self-driving trucks. The company has forged partnerships with other auto companies in the region, such as auto manufacturer Dongfeng Motor and truck manufacturer Sinotruk Hong Kong Ltd. In August 2021, the company raised a $270M Series B, backed by Contemporary Amperex Technology (CATL), Eight Road Ventures, IDG Capital, Meituan, NIO Capital, and others.

Kodiak Robotics

Total funding raised: $167M

Stage: Series B

Year founded: 2018

Country: USA

Recent partners: SK Holdings

Kodiak Robotics is one of the most promising automated trucking startups in the space. The company has secured investment from several leading automotive brands, including BMW’s i Ventures and tire manufacturer Bridgestone. In May 2021, Kodiak announced a partnership with South Korean conglomerate SK that will expand Kodiak’s footprint in the Asian freight market, an opportunity that could exceed $1.5T. SK’s considerable reach in the logistics and hardware manufacturing sectors could allow Kodiak’s proprietary technologies to be vertically integrated across SK’s many subsidiary businesses, which would further strengthen Kodiak’s position.

Gatik AI

Total funding raised: $124M

Stage: Series B

Year founded: 2017

Country: USA

Recent partners: Velodyne, ISUZU Motors, Loblaw Companies

Gatik AI focuses on B2B short-haul logistics, with an emphasis on middle-mile delivery, or moving goods from micro-fulfillment centers and dark stores to pick-up points like retail locations. Since emerging from stealth mode in 2019, the startup has launched pilots with retailers Walmart and Loblaw. The company announced plans to further expand following its $85M Series B raise in August 2021.

Embark

Total funding raised: $117M

Stage: Public (SPAC merger)

Year founded: 2016

Country: USA

Recent partners: NVIDIA

Established in 2016, Embark has become one of the fastest-growing haulage automation companies in the world. Embark’s proprietary software is licensed to hauliers on a per-mile subscription basis and allows logistics firms to deploy the company’s Driver software across existing fleets. 

Embark has operated one of the longest-running self-driving truck programs in the US and announced went public via a merger with Northern Genesis Acquisition Corp. II in November 2021.

Source: WebProNews

Peloton Technology

Total funding raised: $86M

Stage: Series B

Year founded: 2013

Country: USA

Recent partners: Omnitracs

Peloton Technology is an automated vehicle tech company that focuses on truck platooning, where trucks travel together connected by a computer system. The company aims to make autonomous trucking safer through always-on radar sensors and vehicle-to-vehicle communications among platoons. Peloton also reports that its system generates higher fuel efficiency than the non-automated industry standard.

Ike

Total funding raised: $52M

Stage: Acquired (Nuro)

Year founded: 2018

Country: USA

Recent partners: Ryder System

Ike was an autonomous trucking startup founded in 2018 by former Apple, Google and Uber Advanced Technologies Group employees. The company was acquired by automated delivery company Nuro for an undisclosed sum in late 2020. Prior to its acquisition, Ike had partnered with leading logistics companies, including DHL and Ryder, to test its automated driving technologies. It remains unclear how Nuro intends to leverage Ike’s assistive driving software, given that Nuro’s primary focus is automated deliveries rather than long-haul logistics.

Locomation

Total funding raised: $13M

Stage: Debt 

Year founded: 2018

Country: USA

Recent partners: Transportation Research Center, Aon, ZF 

Based in Pittsburgh, Pennsylvania, Locomation was founded in 2018. Unlike many companies in the autonomous trucking space, Locomation has developed its own proprietary vehicles to offer hauliers safer, more efficient trucks equipped with assistive technologies. The company’s trucks are based on the Kenworth T680 truck model and feature a number of automated technologies that can be operated remotely, including steering, brake, and powertrain automation systems. 

Locomation has partnered with Wilson Logistics and PGT Trucking to provide its Autonomous Relay Convoy (ARC) system, in which an autonomous truck “follows” a human-operated vehicle to allow the second driver to rest. Locomation claims to have 2,120 ARC systems under contract as of July 2021.

Source: Locomation

Autobon

Total funding raised: $1.5M

Stage: Debt

Year founded: 2016

Country: USA

Founded in 2016, Autobon began testing self-driving semi trucks in Illinois in 2019. The company specializes in assistive technologies that enhance human operators’ driving capabilities, such as its Visor product, which provides drivers with data about road and weather conditions. In addition, Autobon offers cargo monitoring services via its CargoCam product, which can monitor truck interiors to provide fleet management professionals with real-time updates on cargo security, delivery status, and inventory levels.

TORC Robotics

Total funding raised: $790K

Stage: Acquired (Daimler)

Year founded: 2005

Country: USA

Recent partners: Daimler Truck, Amazon, Transdev

TORC Robotics has partnered with industry leaders such as Daimler Trucks and Luminar Technologies to work toward commercializing self-driving vehicles. Its system employs an approach the company calls “See-Think-Act” as well as a host of integrated cameras, sensors, and lidar. Daimler Trucks acquired a majority stake in the company in 2019.

Fleet management

The operational safety of autonomous trucks is of paramount concern, but autonomous haulage fleets also present unique challenges for dispatchers, making fleet management software another strong area of opportunity for investors. 

Fleet management may involve tracking vehicles in real time, improving driver communication and safety, monitoring fuel consumption, optimizing route planning, and more.

Samsara

Total funding raised: $1,230M

Stage: Series F – II

Year founded: 2015

Country: USA

Founded in 2015, Samsara is a cloud-based fleet management platform. While Samsara offers several tools specifically for commercial hauliers, it also offers a broad range of other data-driven services, including energy efficiency monitoring, real-time property maintenance data, and regulatory compliance tools. This can give fleet managers even greater oversight of their operations. The company confidentially filed for an IPO in September 2021. Samsara has an estimated valuation of $6.3B and currently serves more than 20,000 customers.

Source: Commercial Carrier Journal

KeepTruckin

Total funding raised: $417M

Stage: Series E

Year founded: 2013

Country: USA

Recent partners: Ambarella, Sendbird, Echo Global Logistics

KeepTruckin is a fleet management software company founded in 2013. The company’s proprietary technologies offer fleet managers a range of tools, from electronic logging devices (ELDs) that monitor fuel usage and driver safety issues, such as cellphone usage, to dispatch and tracking insights. In addition to its broad range of functionality, the KeepTruckin platform offers specialized tools for specific industries, including agriculture, construction, oil and gas extraction, and passenger transit. KeepTruckin was founded in 2013 and has grown steadily, securing almost $340M in disclosed funding since 2019.

SmartDrive

Total funding raised: $286M

Stage: Acquired (Omnitracs) 

Year founded: 2004

Country: USA

Recent partners: Brenntag, Averitt Express, CR England

SmartDrive is a vehicle informatics company that combines onboard video sensors with real-time data analytics to help drivers stay safe on the road. SmartDrive was founded in 2004 and was acquired by Omnitracs for $450M in September 2020. SmartDrive’s risk analysis tools factor in conditions such as load weight and inventory type, weather, and driver awareness to highlight safety risks that could jeopardize drivers and their hauls. Prior to its acquisition, SmartDrive had recorded almost 25B miles traveled and more than 300M “critical events.”

Decisiv

Total funding raised: $51M

Stage: Growth equity

Year founded: 2001

Country: USA

Recent partners: Daimler Trucks North America, Navistar, Trimble

One of the oldest companies operating in the fleet management space, Decisiv was founded in 2001. The company’s Service Relationship Management (SRM) platform helps hauliers track the vital maintenance and repairs necessary to keep trucks operating safely. Decisiv’s platform has grown steadily in recent years; at the beginning of 2020, Decisiv’s SRM had been used to manage 15M “service events,” Decisiv’s term for repairs and service work carried out on specific trucks. By the end of 2020, Decisiv had managed more than 18M service events, and today approximately 75,000 fleets nationwide rely on Decisiv to keep their drivers and vehicles safe.

Source: Decisiv

LocoNav

Total funding raised: $44M

Stage: Series B

Year founded: 2015

Country: India

Founded in 2015, LocoNav is a provider of GPS services to the commercial goods transportation sector. Beyond its various GPS services, the company offers hauliers an end-to-end fleet management platform that enables dispatchers to monitor vehicle conditions, fuel usage, driver safety, individual vehicle assignments and routes, and remote-enabled vehicle security measures. LocoNav is currently used by hauliers in 25 countries, and the company has also branched out into non-commercial transportation solutions, including GPS trackers designed for passenger vehicles, bicycles, and school buses.

Idelic

Total funding raised: $32M

Stage: Series B

Year founded: 2016

Country: USA

Recent partners: Quantix

Insurance is one of the most significant cost centers facing haulage fleets. Higher risk equals higher payments, and Idelic, founded in 2016, aims to offer fleet managers a better, smoother experience and help logistics firms reduce their insurance costs by promoting driver safety. Idelic’s driver management platform helps dispatchers identify at-risk drivers via predictive algorithms, implement corrective actions and submit insurance claims, ensure driver certifications are current, and report on individual and fleet performance.

FleetUp

Total funding raised: $27M

Stage: Loan

Year founded: 2013

Country: USA

Recent partners: Waylens

FleetUp offers a range of fleet and inventory management tools aimed at long-haul logistics firms. The company’s telematics product has been trialed in Mexico to identify opportunities to improve safety and reduce accidents involving commercial goods vehicles, a partnership with Mexican automotive insurer Quálitas that also sought to improve fuel efficiency and increase hauliers’ productivity. FleetUp also partnered with rental software company Alert to bring its GPS monitoring capabilities to Alert’s platform. The company was established in 2013 and raised $20M as part of ambitious expansion plans in 2018.

CloudTrucks

Total funding raised: $27M

Stage: Series A

Year founded: 2019

Country: USA

Recent partners: Uber

CloudTrucks is a scheduling, payments, and operations tool designed specifically for the unique needs of truckers and logistics firms. Drivers can create custom schedules that maximize revenues per-mile driven and submit proof of delivery via the app for faster payments. Truckers can bid on loads via several different brokers, from which CloudTrucks takes a fee.

The company was founded in 2019 and has since raised more than $26M.

Nextmv

Total funding raised: $14M

Stage: Series A 

Year founded: 2019

Country: USA

One of the fastest-growing companies in the commercial logistics space, Nextmv gained widespread industry press attention following Y Combinator’s Demo Day in 2020. As a “decision automation” startup, Nextmv helps fleet managers optimize driver routes and schedules by providing simulations of how specific routes, loads, and schedules impact overall fleet productivity. Although the company remains comparatively small with just over 20 employees, Nextmv has ambitious plans for expansion and intends to more than double in size by 2022.

Maven Machines

Total funding raised: $10M

Stage: Series A

Year founded: 2014

Country: USA

Recent partners: CRST International

Maven Machines is a fleet management and telematics company founded in 2014. Maven’s primary product is a fleet monitoring solution that offers dispatchers a single dashboard combining real-time vehicle tracking, inventory management, safety monitoring, automated routing and scheduling, and a range of customizable workflow and communications tools. Maven partnered with McLeod Software in April 2021 to bring Maven’s Workflow product to McLeod’s customers, a platform that launched in January 2021.

Source: Maven Machines

Pulpomatic

Total funding raised: $9.7M

Stage: Series A 

Year founded: 2017

Country: Mexico

Pulpomatic is a cloud-based data management platform that integrates with most leading vehicle informatics systems to give dispatchers greater insight into fleet performance. Founded in 2016, Pulpomatic claims to manage more than 30,000 commercial goods drivers and vehicles every month, integrating with mileage tracking and fuel efficiency monitoring systems and real-time vehicle routing networks.

Preteckt

Total funding raised: $4.2M

Stage: Series A

Year founded: 2015

Country: USA

While many companies are working to improve the efficiency and accuracy of predictive routing solutions, a smaller number are doing the same for vehicle maintenance. This is the problem Preteckt, a diagnostic tools developer founded in 2015, aims to solve. 

Preteckt’s software relies on sophisticated sensors as well as machine-learning algorithms to more accurately predict the repair and maintenance needs of commercial goods vehicles. Although Preteckt’s diagnostic tools were developed primarily for trucks, the company’s technology has also been adapted for public transit systems, significantly expanding Preteckt’s potential markets.

Smartlane

Total funding raised: $2M

Stage: Series A

Year founded: 2015

Country: Germany

Smartlane is a German transportation intelligence startup established in 2015. The company’s cloud-based technology is aimed at short-haul logistics firms and leverages AI and machine-learning algorithms to automate much of the cargo logistics process. The company’s technology makes decisions based on more than 250 planning parameters to reduce costs, save time, and lower carbon emissions. Smartlane’s technology has been recognized as some of the most promising in the field, and the company expects to achieve annual sales in the tens of millions by 2022.

Fleet Complete

Year founded: 1998

Country: Canada

Recent partners: Dialect, Conmet, General Motors

Founded in 2000, Fleet Complete is another legacy firm in the fleet management space. Fleet Complete specializes in fleet telematics, distributed real-time information systems that rely on edge computing to give dispatchers real-time data on individual vehicles and fleets as a whole. Fleet Complete’s Vision product combines video feeds with AI data processing to provide dispatchers with a range of metrics about vehicle load, operator safety, road conditions, and other data points. Fleet Complete Vision has already been tested extensively on Germany’s Autobahn system, and the company has set a $1B revenue target by 2025.

Freight matching

Cost and time efficiencies can make or break logistics firms, which is why freight matching — pairing cargo freight with specific drivers — is so important. In the past, brokers would serve as vital middlemen between consignors and drivers, but today, much freight matching is handled algorithmically.

With logistics firms vying to offer more efficient, cost-effective services to their clients, freight matching is likely to remain intensely competitive in the coming years, especially as automation becomes more prevalent across freight and fleet management and as established players attempt to diversify their offerings.

Manbang Group

Total funding raised: $3.7B

Stage: IPO

Year founded: 2017

Country: China

Recent partners: Plus

China’s Manbang Group is one of the most well-funded logistics startups in the world. Since launching in 2017 with the merger of rival logistics firms Yunmanman and Huochebang, Manbang — which has been described as an on-demand “truck hailing” service — has raised more than $3.6B in funding. As of late 2020, Manbang had more than 10M verified truckers and 5M cargo consignors on its platform. The company IPO’d in June at a $17B valuation. 

Source: MarketWatch

Convoy

Total funding raised: $675M

Stage: Series D

Year founded: 2015

Country: USA

Recent partners: Smartway, Flexport, CHEP

In commercial haulage, “empty miles” refers to situations in which truckers depart on lengthy drives without any cargo, oftentimes in the process of returning a vehicle to its point of origin. In addition to costing hauliers valuable contracts, empty miles also contribute significantly to vehicular CO2 emissions, and Convoy aims to solve these problems. Convoy is a digital freight network that relies on machine-learning algorithms to efficiently pair carriers with shippers to eliminate empty miles and reduce costs. The company was founded in 2015 and reached an estimated valuation of $2.75B following its $400M Series D round in 2019.

Flock Freight

Total funding raised: $400M

Stage: Series D

Year founded: 2015

Country: USA

Many of the trucks motorists pass on the highway every day are only partially loaded. This kind of inefficiency is the problem Flock Freight aims to solve by coordinating with shippers and drivers to ensure full multistop truckloads.

Founded in 2015 by Oren Zaslansky, Flock Freight aims to significantly reduce the carbon footprint of the commercial logistics space. Shared truckloads reduce greenhouse gas emissions by up to 40%, and Flock Freight offsets the remaining 60% via Carbonfund.org, which the company claims makes it the only freight management company in the world to offer carbon-neutral shipping at no additional cost.

Source: Flock Freight

FOR-U Smart Freight

Total funding raised: $470M

Stage: Series E

Year founded: 2013

Country: China

Formerly known as Fuyoukache, the company rebranded as FOR-U Smart Freight in March 2021. FOR-U offers shippers in China real-time truckload pricing for long-haul cross-country haulage as well as shorter routes. Like many other freight marketplaces, FOR-U’s technology relies on machine-learning algorithms to match shippers with carriers. FOR-U has grown quickly since its inception, partnering with leading Chinese logistics firms, including Deppon Express, Jingdong Logistics, and SF Express. The company filed a prospectus with the SEC in May 2021 ahead of a planned IPO in the US.

BlackBuck

Total funding raised: $331M

Stage: Series E

Year founded: 2015

Country: India

Recent partners: The Maersk Group

With more than 15,000 clients and a fleet of 1.2M trucks, BlackBuck is India’s largest freight and fleet management platform. The company was established in 2015 and offers two primary products: a centralized platform for shippers seeking drivers and another for drivers and fleet operators. BlackBuck’s technology can handle everything from freight management to online payments and automated toll processing. The company raised $67M as part of its Series E round in July 2021, giving BlackBuck an estimated valuation of $1B.

Rivigo

Total funding raised: $320M

Stage: Series G

Year founded: 2014

Country: India

Rivigo is a logistics marketplace competing with the likes of BlackBuck for dominance in the lucrative Indian market. Beyond connecting shippers with carriers, Rivigo differentiates itself by offering relay cold-chain logistics for merchants transporting temperature-controlled goods, including frozen foods, fresh fruits and vegetables, and medical and pharmaceutical supplies.

Loadsmart

Total funding raised: $145M

Stage: Series C

Year founded: 2014

Country: USA

Recent partners: Manhattan Associates, Home Depot

Founded in 2014, Loadsmart has quickly become a major player in the freight-tech space. In late 2020, Loadsmart expanded its multimodal service offerings to include less-than-truckload (LTL) shipments and rail freight, both of which favor smaller shippers and may prove to be a competitive advantage in the US domestic market. Loadsmart partnered with SmartHop, an early-stage logistics startup serving small carriers, in December 2020. The company has seen strong growth since the beginning of the Covid-19 pandemic, citing year-over-year revenue growth of 232% in Q2’21.

NEXT Trucking

Total funding raised: $124M

Stage: Series C

Year founded: 2015

Country: USA

Recent partners: Mitsui OSK Lines

NEXT Trucking was founded in 2015. The company’s platform prioritizes drayage in and from the Port of Los Angeles. NEXT has focused on expanding its product’s breadth of functionality during the Covid-19 pandemic, including the launch of a new portal interface for shippers in April 2021 and new reporting tools in June 2021.

Freightos

Total funding raised: $97M

Stage: Series C 

Year founded: 2012

Country: Israel

Recent partners: Qatar Airways

Freightos is a freight marketplace that connects shippers to carriers. While there is certainly no shortage of such brokerages, Freightos differs in that shippers can manage international freight shipments via air, land, and sea carriers. Users can compare prices between carriers and track shipments in real time. The global nature of Freightos’ marketplace could be a considerable competitive advantage for the company as carriers struggle to keep up with demand.

Source: Freightos

Trella

Total funding raised: $43M

Stage: Corporate Minority

Year founded: 2018

Country: Egypt

Recent partners: ExxonMobil

Trella is a logistics marketplace serving the growing Egyptian market. The company was secured crucial early backing from ExxonMobil, which later partnered with Trella on the Collaboration and Framework Agreement, the petrochemical giant’s first direct investment in a tech startup in the Middle East and North Africa (MENA) region. As of July 2021, Trella had more than 15,000 carriers on its platform.

Ezyhaul

Total funding raised: $22M

Stage: Series B

Year founded: 2016

Country: Malaysia

With competition among long-haul routes intensifying, some companies are exploring ways to broaden their reach, such as by targeting smaller loads and shorter routes. Ezyhaul is a freight-forwarding startup based in South Asia that operates across Cambodia, China, Laos, Malaysia, Myanmar, Singapore, Thailand, and Vietnam. In addition to both short- and long-haul bids, Ezyhaul offers a range of complementary services including container haulage. The company claims to have more than 71,000 shippers on its platform, which have carried approximately 1.4M kilos of cargo since the company was established in 2016.

Leaf Logistics

Total funding raised: $21M

Stage: Series A

Year founded: 2017

Country: USA

Leaf is a freight contracting marketplace that uses AI and machine learning to match consignors with shippers. In addition to serving both sides of the traditional logistics marketplace, Leaf also works with other brokers. The platform’s Flex contracting system allows brokers to establish preferred schedules weeks or months ahead of time at rates that are locked in, mitigating some of the pricing fluctuations common in freight brokerage.

Everoad/sennder France

Total funding raised: $21M (Everoad)

Stage: Series D (sennder)

Year founded: 2016 (Everoad)

Country: France

Recent partners: Zeitfracht

Established in France in 2016, digital freight forwarding company Everoad merged with German freight-tech firm sennder in June 2020. Everoad was rebranded to Everoad by sennder shortly after the merger and became sennder France in March 2021.

As a digital freight forwarding service, sennder France connects shippers with carriers. However, while many freight management startups tend to focus on long-haul routes and large bids, sennder France allows smaller businesses to bid on freight shipments across Europe. sennder raised an additional $80M in January 2021, which the company said it would use to continue its European expansion plans.

Source: sennder

SmartHop

Total funding raised: $17M

Stage: Series A

Year founded: 2016

Country: USA

Recent partners: Parade

Unlike most freight matching platforms, SmartHop focuses primarily on smaller carriers; 90% of SmartHop’s carriers are companies with fleets of fewer than 6 vehicles. The company’s stated mission is to “level the playing field” in commercial logistics, highlighting the fact that larger carriers and major brokerages often disadvantage smaller trucking companies. Despite its tighter focus on small fleets, SmartHop embarked on an aggressive hiring spree in 2021 and opened its second office in Bogotá, Colombia.

Dray Alliance

Total funding raised: $15M

Stage: Series A

Year founded: 2016

Country: USA

In commercial shipping, “drayage” refers to the short-distance haulage of goods between two points, typically between cargo ships and regional distribution centers. Dray Alliance, founded in 2017, aims to make drayage brokering easier, faster, and more efficient. Dray Alliance’s cloud-based platform connects drayage shippers with carriers and counts leading carriers, including Maersk, CMA CGM, and JB Hunt, among its clients. Numerous port cities across the US including Los Angeles have experienced strong demand for drayage services, giving Dray Alliance a sizable and growing market.

ZUUM Transportation

Total funding raised: $14M

Stage: Seed

Year founded: 2015

Country: USA

Founded in 2016, ZUUM Transportation is a cloud-based platform that combines freight matching and tracking, brokerage software, and an app for truck drivers. The company offers several distinct products serving different markets, including ZUUM Business for SMBs and Enterprise for large shippers.

Cargo Chief

Total funding raised: $14M

Stage: Series B

Year founded: 2012

Country: USA

Recent partners: GateHouse Logistics

Founded in 2012, Cargo Chief is a cloud-based freight brokerage marketplace that matches shippers with drivers. The platform aggregates data from a range of sources, including Cargo Chief’s proprietary LaneMaster system, which launched in late 2020, to offer consignors virtually real-time pricing data for specified routes. Shippers can use this data to make more informed bids, which helps reduce costs and saves time. Users can see other shippers bidding on specific routes, and the tool’s AI can help consignors identify optimal times to bid on lanes.

Ritase

Total funding raised: $8.5M

Stage: Series A

Year founded: 2016

Country: Indonesia

Ritase is a digital freight matching platform cofounded by serial entrepreneur Iman Kusnadi, a logistics industry veteran who spent several years at DHL before launching the company as Trucktobee. The company was established in 2016 and is quickly becoming a major player in Indonesian logistics. In addition to its core marketplace product, Ritase also offers a SaaS platform for load planning and route management.

FleetOps

Total funding raised: $7.8M

Stage: Seed

Year founded: 2015

Country: Canada

FleetOps is a freight matching marketplace that automates carrier vetting and connects consignors with shippers. The company’s platform relies on a network of electronic logging devices (ELDs) to accurately gauge individual carrier loads, giving dispatchers more information. FleetOps is used by many of the industry’s leading brokerages, including Convoy and Loadsmart, and evaluates loads based on a range of factors, including location and engine data, carrier preferences, and live service data, to help consignors find the right carrier for their needs.

PostBidShip

Total funding raised: $7.6M

Stage: Convertible Note

Year founded: 2010

Country: USA

Scottsdale, AZ-based PostBidShip is a digital freight matching platform that was founded in 2010. Since then, the company has taken on little funding, raising a total of just $7.6M. Despite its modest financing, PostBidShip has grown consistently and was named one of industry periodical FreightWaves’ FreightTech 100 in both 2020 and 2021.

Quicargo

Total funding raised: $5M

Stage: Series A

Year founded: 2015

Country: Netherlands

Quicargo, founded in 2016, is a logistics marketplace that not only matches shippers with carriers but does so in a way that emphasizes the reduction of carbon emissions. Quicargo further distinguishes itself by offering specialized services such as pallet and parcel delivery, as well as shipments for specific industries, including construction, furniture, medical supplies, and textile production.

Fr8Hub

Total funding raised: $4.4M

Year founded: 2015

Country: USA

Recent partners: Sherwood Food Distributors

As complex as freight forwarding can be, it becomes even more complicated over international borders. Fr8Hub, which was established in 2015, aims to make international freight easier by connecting shippers with carriers across Canada, the US, and Mexico. The company merged with Beijing-based Hudson Capital Inc. in October 2020, with Fr8Hub becoming a wholly owned subsidiary of Hudson Capital. The company has seen strong growth in recent years; in May 2020, Fr8Hub’s monthly revenues were approximately $247,000, a figure that increased to $1M by September 2020.

Freightera

Total funding raised: $1.7M

Stage: Debt

Year founded: 2014

Country: Canada

Recent partners: Natural Resources Canada 

Founded in 2014, Freightera is a freight marketplace with an emphasis on sustainability. Freightera allows consignors to search for carriers enrolled in emission reduction initiatives, such as the Environmental Protection Agency’s SmartWay Partnership. Freightera is a vocal advocate for low-emission vehicle technologies, and the company’s scientists and executives have spoken at events such as the G7 Summit in Japan and the UN Climate Change Conference (COP22) in Morocco in 2016.

Source: FreightWaves

Lorryz

Total funding raised: $1.4M

Stage: Seed

Year founded: 2019

Country: United Arab Emirates

Lorryz, based in Dubai, is a relative newcomer in the world of logistics marketplaces. The company was established in 2019, raising a $1.4M seed round led by Emirates Investment and Development Center. Lorryz’s primary market is the United Arab Emirates, but the company wasted little time expanding to the potentially lucrative but largely untapped Pakistani logistics market, which the World Bank estimates to be worth approximately $35B.

LoadMe

Total funding raised: $1.3M

Stage: Series A

Year founded: 2014

Country: United Arab Emirates

Established in 2014, LoadMe is an automated logistics marketplace based in Dubai. Users can oversee their shipments from start to finish from the product’s centralized dashboard, including one-click shipment placement, algorithmic assignments, real-time shipment tracking, and route management.

SHIPNEXT

Total funding raised: $150K

Stage: Private Equity

Year founded: 2016

Country: Belgium

SHIPNEXT is a seed-stage logistics startup based in Delaware. Besides its freight matching marketplace, SHIPNEXT offers consignors a variety of functionality to streamline their bidding process, including cargo-to-ship email management and ERP tools, as well as SHIPNEXT Cloud, which allows shippers to determine port costs and bunker prices.

Freight tracking & visibility

While many freight matching services offer tracking solutions, there is also a deeper need for specialized freight tracking and visibility tools. For companies shipping highly valuable or sensitive cargo, dedicated freight tracking tools can provide detailed, invaluable insight into cargo movements.

This category includes both visibility platforms and digital freight forwarding. Visibility platforms analyze real-time data from along the supply chain to provide end-to-end shipment visibility and increase supply chain resilience. Digital freight forwarding includes platforms that help manage the end-to-end shipment of freight around the world for shippers. This includes streamlined pricing, increased communication, inventory visibility, insights, and analytics.

Flexport

Total funding raised: $1.3B

Stage: Series E

Year founded: 2013

Country: USA

Recent partners: Convoy

Founded in 2013, Flexport has quickly grown to become a major player in freight tracking and cargo management. Flexport specializes in the tracking of ocean freight, a crucial aspect of the global supply chain, in addition to air and land cargo. Flexport has grown consistently in recent years, expanding into tangential products such as its Order Management tool, which allows consignors to track shipments by SKU.

Source: FreightWaves

project44

Total funding raised: $393M

Stage: Series E

Year founded: 2014

Country: USA

Recent partners: SupplyStack, Tive, PINC Solutions

project44 is a freight visibility and tracking platform based in Chicago. The company serves shippers in a range of industries, from consumer packaged goods and retail to manufacturing and life sciences. project44’s platform offers real-time visibility into ocean cargo ships as well as container ship sailing schedules and ETAs. The company has made 4 acquisitions in as many years and has also partnered with big data powerhouses including IBM, Oracle, and SAP.

sennder

Total funding raised: $310M

Stage: Series D 

Year founded: 2015

Country: Germany

Recent partners: Zeitfracht

sennder is one of Europe’s largest freight-forwarding companies, with more than 900 employees supporting 12,500 trucks across its network. Freight tracking is a crucial part of sennder’s business, and its Otters platform offers end-to-end visibility of shipments in transit. The company has made several high-profile acquisitions to expand its reach, such as its acquisition of Dutch transportation company Cars&Cargo in May 2021 and Uber Freight Europe in September 2020, and its merger with Everoad in May 2020.

FourKites

Total funding raised: $203M

Stage: Series D

Year founded: 2014

Country: USA

Recent partners: Cleo, Dat Solutions, Cardinal Health

While many freight tracking systems focus on goods in transit, FourKites also gives shippers greater visibility into merchandise stored in warehouses and distribution centers throughout the cargo journey. FourKites’ Dynamic Yard yard management system (YMS) gives consignors real-time visibility into where shipments are stored in specific distribution facilities, which could be a significant growth area within the broader logistics industry in the coming years.

Shippeo

Total funding raised: $68M

Stage: Series C

Year founded: 2014

Country: France

Recent partners: Sappi, Savoye, Nexans

Shippeo is a freight-forwarding company with an emphasis on sustainable haulage. The company’s platform aggregates data from more than 850 telematics systems and 140,000 carriers to track upward of 25M shipments per year, making it one of the most comprehensive platforms in the space.

Zencargo

Total funding raised: $66M

Stage: Series B

Year founded: 2017

Country: United Kingdom

Recent partners: Xeneta

Founded in 2017, Zencargo is a London-based digital freight-forwarding and logistics company. Operating across land, sea, and air routes, Zencargo  can help shippers maximize container utilization and lower costs. Tools such as Zencargo’s intake planning functionality help consignors identify problems and bottlenecks faster to minimize disruption to their supply chains. Zencargo raised $42M USD in May 2021, which the company will use to expand internationally and more than double its current headcount of 150 people.

Roambee

Total funding raised: $42M

Stage: Series B 

Year founded: 2014

Country: USA

Recent partners: T-Mobile

Founded in 2014, Roambee is a global supply chain visibility provider based in California. In addition to offering users real-time tracking of international shipments, Roambee also tracks returnable assets such as pallets, as well as field assets such as heavy machinery. Roambee’s technologies have also been used to track the distribution of the Covid-19 vaccine.

Logixboard

Total funding raised: $17M

Stage: Series A

Year founded: 2016

Country: USA

Recent partners: RIM Logistics

Logixboard is a software platform that lets freight-forwarding companies create customized, branded user experiences for shippers and carriers. The platform serves as the nerve center of freight-forwarding operations, from real-time freight tracking and ETAs to centralized messaging and document management. Logixboard has partnered with a number of logistics firms to provide better experiences for their users, including RIM logistics and Western Overseas Corporation.

Source: Logixboard

Freight Tiger

Total funding raised: $16M

Stage: Series C

Year founded: 2014

Country: India

Founded in 2014, Freight Tiger is a freight management platform based in India. The company’s freight tracking product, FT Trace, relies on AI and machine learning to predict estimated times of arrival, even for shipments that lack ELDs or other means of providing real-time logistics data.

FreightVerify

Total funding raised: $12M

Stage: Loan

Year founded: 2014

Country: USA

FreightVerify, based in Michigan, specializes in freight tracking and management technologies. In addition to its core FreightVerify platform, the company also offers several tools designed for the logistics needs of specific industries, including VINView for automotive dealerships, FV Systems for healthcare and medical supply chains, and PartView for the aftermarket hardware and parts markets.

InstaFreight

Total funding raised: $9.5M

Stage: Series C

Year founded: 2016

Country: Germany

Recent partners: SAP

InstaFreight is a Germany-based freight management platform founded in 2016 that operates throughout continental Europe. The company is committed to helping reduce carbon emissions across the logistics sector. It entered into a partnership with Shell in February 2021 to distribute lubricants across Europe with significantly lower CO2e emissions. The partnership will help Shell reduce its output by approximately 260 metric tons of emissions per year thanks to route-finding and shipment optimization efficiencies.

Shippabo

Total funding raised: $3.9M

Stage: Seed

Year founded: 2015

Country: USA

Shippabo is a freight-forwarding company based in Los Angeles. Although Shippabo offers support for air freight and drayage, it specializes in ocean freight tracking. By offering services such as less-than-container-load (LCL) shipping, Shippabo hopes to appeal to smaller import/export companies that may be priced out of using other freight marketplaces.

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For one, the global supply chain is still reeling from Covid-19, with shipping ports across the world experiencing long delays. Meanwhile, the driver shortage, which began plaguing the trucking industry before the pandemic, persists. 

Businesses are also facing higher fuel prices, customer demand for faster shipping, and shipping costs. 

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The post As Supply Chain Pressures Mount, These 60+ Trucking Tech Companies Are Reshaping Logistics appeared first on CB Insights Research.

HOW’S THE COMPANY PERFORMING

• Connecticut-based Logicbroker’s software helps purchasers, retailers, suppliers, e-commerce brands, and third-party logistics providers with fulfillment.
• The company has reportedly witnessed 80% year-over-year revenue growth. Its gross merchandise value (GMV) is expected to rise to $6B by the end of 2021.
• It caters to 4,000 companies — Coca-Cola, Samsung, Mars Wrigley, Amazon, Walmart, and Walgreens are included among its customers.
• Logicbroker has inked partnerships with Salesforce, Magento, Something Digital, and Oracle Netsuite, among others.
• The company employs 65 people across 5 global locations.

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The post Logicbroker, A Drop Shipping And EDI Software Provider, Raises $135M In Growth Equity Funding appeared first on CB Insights Research.

How’s the company performing?

• New York-based Ohi operates through a network of microfulfillment centers and partners with last-mile delivery brands like Postmates, Door Dash, and Uber, among others.
• Ohi claims its customers see 28% average growth in conversion rate and up to 120% repeat purchase rate growth.
• The company has over 50 customers that include Health-Ade, SolaWave, Ripple, and Untuckit, among others.

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The post Ohi, A Provider Of Same-Day Delivery And Post-Purchase Experience Tech For E-Commerce Companies, Raises $19M To Expand Across The US appeared first on CB Insights Research.