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With more than 12% of world GDP stuck in logistics, the industry represents a huge reward and one of the most daunting challenges of the global age.
We’ve decided to take a look at the biggest and bravest startups who think they are up to the challenge of conquering this market.
“Logistics is broken”. Turvo, an all-in-one solution for the whole market
Perhaps Turvo is the company with the biggest ambition on our list. Its CEO, Eric Gilmore, believes logistics is completely broken and his startup has the mettle to fix it all.
Recently this California-based transportation startup charmed new investors with the idea of truly disrupting the transportation market. Their concept is called “collaborative logistics” – a method that could reduce time, money, and complexity involved in moving things from A to B. Yesterday Turvo managed to secure a Series A round worth $25 million dollars in VC capital.
Turvo is going to challenge such giants of the logistics market as SAP and Oracle, not to mention the myriads of logistics solutions developed by smaller brands.
In contrast with the other solutions, Turvo aspires to cover the whole supply chain, delivering better value and convenience for every part of the supply chain.
The company has been working on their real-time AI-based software since 2014 and now they are ready to offer the solution to the general public. Only time will tell whether “the future of logistics has arrived” or it’s just wishful thinking.
“A seamless web of global commerce”. Flexport, a freight forwarding startup
During only 4 years of its existence Flexport attracted $91.6M of investment. The company already spans 3 continents and works across more than 100 countries. That’s half the world! And that’s impressive.
In 2016 Flexport received another round of funding worth $65M. With such money the company opened new offices in Amsterdam, Hong Kong, and New York.
Flexport claims logistics is one of the biggest and backwards-thinking markets in the world, untouched by technology. The company dreams of connecting international commerce in an effort to take the biggest bite from a trillion-dollar-worth market.
“Booking.com for global shipping”. Freightos, an online marketplace for international freight
Freightos is another example of serious ambition of conquering the global market. The company was founded in 2012 and raised throughout its history $56M in venture capital and angel investment.
In August 2016, to advance its plans of global domination, Freightos decided to buy WebCargoNet. Together with its new purchase the two companies formed the largest freight rate database in the world.
With 150 employees across 6 locations Freightos provides shipping quotes to thousands of customers all over the world.
Today the company announced another successful round of funding securing $25M of VC investment.