During 2019, Transmetrics Blog has been showcasing many logistics and supply chain startups which are using innovative technologies to improve the industry’s performance. As a part of the Logistics of the Future Series, we’ve highlighted the most remarkable startups disrupting Maritime Shipping, Trucking, AI in Logistics and many more. However, sometimes we wanted to learn more about some of these outstanding solutions. Therefore every month we were interviewing one company which represents a positive example of innovation in logistics and Supply Chain.
In this article, we highlight all the startups featured in the “Logistics Startup of the Month” series to demonstrate their importance for the development of the industry. From AI to Blockchain and from real-time visibility to platooning, here are all the logistics startups that deserve to be in the spotlight:
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TNX Logistics offers AI for trucking. For each shipment, the software devises a tendering strategy and constructs carrier-specific proposals on its own, including when and to whom to make offers, pricing, and bundling of work. It is a catalog of tendering tactics powered by optimization and machine learning. In both New Zealand and Europe, the company is used by top-ten 3PLs and 4PLs.
To put it simpler, truck utilization has three key metrics:
- Out of the 24 hours of the day, how long is the truck rolling?
- Out of its rolling time, how often is it empty?
- When it’s rolling non-empty, how full is it?
Improving the second and third metrics comes down to better planning, and this is where TNX Logistics plays.
CargoX is a compact team of industry veterans from the logistics and software development sector. Most of the current team members had experience with ocean shipping from previous ventures, where they had to deal with paper Bills of Lading.
“There was simply too much hassle with them – they got damaged, lost, or even stolen. Because they are documents of title, this means that shippers and importers are vulnerable to theft – if somebody steals the documents, they could steal the goods from the ship,” elaborates Igor Jakomin, CargoX COO
To tackle this, CargoX has designed an extremely secure solution, based on the public blockchain Ethereum Network. Blockchain provides complete event transparency when encrypting relevant shipping documents (Smart Bills of Lading™, Certificates of Origin, Invoices, and other documents) while allowing to hide the documents’ content from unwanted eyes.
FarEye is a digital logistics SaaS platform to move goods efficiently. They empower global leaders with predictive visibility and operational intelligence to achieve on-time deliveries at a reduced cost. The solution helps to address the cost and time-to-market repercussions of uncertain and delayed deliveries.
FarEye makes all of it possible through:
- Real-time predictive visibility on Estimated time of arrival
- Quick and sophisticated workflow creations and reconfigurations – across multiple providers
- Superior visibility on top of the existing TMS/WMS Solutions
Since 2013, the company has matured into a well-acknowledged player facilitating 10 million+ transactions per day across 20+ countries for more than 150+ customers. In addition to that, it has been mentioned by Gartner for the real-time visibility and vehicle routing and scheduling technologies in seven reports.
Nautilus Labs is building artificial intelligence to advance the efficiency of ocean commerce. Their technology helps shipping companies minimize fuel consumption, maximize operational efficiency, and optimize fleet performance. It also reduces greenhouse gas emissions and makes global trade more sustainable.
Today, maritime commerce is the third-largest emitter of greenhouse gas (GHG) emissions, and it will account for 20% of GHG emissions by 2050 if left unchecked. However, nearly 30% of the $100B of fuel that ocean shipping vessels consume every year is wasted. This inefficiency is in part due to the industry’s reliance on manually collected and analyzed data, which is error-prone and often inaccurate. By unifying data in a single analytics platform, Nautilus provides continuous and predictive insight into vessel performance.
Leveraging machine learning and artificial intelligence, the software enables clients to monitor, understand, and optimize vessel performance across their fleets to maximize ROI. in the long term, it drives awareness and reduction of fuel consumption across the industry, and in turn, makes ocean shipping more sustainable.
Stargo is a cloud-based pricing and proposal optimization solution. Getting the best possible proposal together for a door to door shipment can take hours if not days. The platform generates five plans for any route in seconds. Stargo uses Artificial intelligence to help select the best possible journey taking into account price, time, Incoterms, profit margins, size, and tens of other criteria.
The platform has several modules: the AI optimization engine is the key one as well as StarDox Document Digitization, StarPay Guaranteed Payments, and StarBoard Insights Portal. In most companies, pricing and routing information lay scattered around in unstructured formats, databases, spreadsheets, pdf, emails, faxes and hence cannot be used for data mining. The platform’s modules take any format, any structure, and reads, interprets, translates and structures that information and make it available for data mining.
Peloton is one of the most unique logistics startups on the market. It is a connected and automated vehicle technology company dedicated to improving the safety and efficiency of U.S. and global freight transportation. Backed by ten Fortune Global 500 companies, Silicon Valley-based Peloton partners with customers to deliver innovative tools that save fuel, avoid crashes, and improve operational insight through connectivity, automation, and advanced data analytics.
Peloton’s flagship driver-assistive platooning system, PlatoonPro, utilizes vehicle-to-vehicle communications and radar-based active braking systems, combined with sophisticated vehicle control algorithms and a connection to a Network Operations Cloud, to create a connected driving experience that improves fuel economy, driver teamwork, and safety.
project44 (p44) is the world’s leading advanced visibility platform for shippers and logistics service providers. The platform connects, automates, and provides visibility into key transportation processes to accelerate insights and shorten the time it takes to turn those insights into actions. p44 supports all transportation modes and shipping types, including parcel, final-mile, less-than-truckload, volume less-than-truckload, truckload, rail, intermodal, and ocean.
Leveraging the power of the p44 platform, its clients can increase operational efficiencies, reduce costs, and improve shipping performance. The company has recently announced its partnership with SAP which aims to change the way shippers manage the delivery process, helping customers to save time and resources, improve operations and thrive in the experience economy.
Globe Tracker is a privately held Danish company with offices in Denmark, Faroe Islands, Iceland, Germany, Netherlands, USA, and Canada. The startup is focused on end to end cold chain visibility. It combines both cellular and other Internet of Things (IoT) technologies like Bluetooth and LoRa to address remote temperature monitoring, compliance, and visibility across the cold chain.
Globe Tracker’s goal is to make the cold chain more reliable and efficient, to reduce waste and cargo claims, and to improve the quality of perishable transport globally. According to the company, its technology can bring operational and efficiency benefits while providing revenue-generating models and a means for its customers to build a stronger relationship with their end customers, the shippers or Beneficial Cargo Owners (BCO’s).
SHIPSTA takes a digitized, smart approach to freight rates procurement. Its flexible eProcurement platform, SHIPSTA FLEX, allows purchasing and tendering processes to be optimized providing and effective digital network between shippers and freight forwarders.
Thanks to new digital technologies, tendering processes can be analyzed in seconds with a mouse click instead of suffering weeks of excel mania. Therefore, SHIPSTA’s eProcurement doesn’t just save time, but also money – there’s a saving of up to 65 percent when it comes to process costs. At the same time, it creates top-notch transparency that helps clients to gain more insights into their business.
Sixfold is one of Europe’s leading real-time shipment visibility platforms for the logistics industry. Shippers and carriers seamlessly integrate their transport management and fleet monitoring systems with the Sixfold visibility platform to know where their shipments are and when they will arrive with minimal manual work from either of the parties. The platform aggregates data from all telematics systems into one stream giving true end-to-end visibility of shipments. It also utilizes machine learning to predict and alert relevant stakeholders about shipment delays.
Up to € 500 million worth of goods are monitored by Europe’s supply chains each day using the Sixfold platform enabling customers and shippers to gain business advantage and to better plan operations. The company supports clients in more than 25 European languages and data distributed on its platform is totally secure and GDPR compliant.
CARGOMETER is the market-leading company for “on-the-fly” measurement, weighing and identification of goods on the moving forklift. In fact, the CARGOMETER team has invented and patented the concept of this technology, which allows measuring the freight during the process of unloading/loading of the truck directly at the loading gate.
Empirical studies have shown that more than 15 % of all pallets transported in less-than-truckload logistics are billed at rates that are too low. As a result, European cargo carriers are missing out on EUR 2.4 billion of revenue each year. The basic problem is that cargo carriers rarely measure the dimensions and weight of their freight because of the artificial bottlenecks that current measuring systems create in transshipment terminals. As a consequence, the entire sector relies on guesswork when billing its most valuable resource – cargo space.
Being one of the best logistics startups, CARGOMETER does not need any additional space or time for the measurement, it provides a clear logistical advantage over the stationary measurements that are currently common practice.