Plug and Play’s Batch 3 accelerator program is specifically designed to help develop and grow logistics and supply chain startups.
Sunnyvale/Sofia August 29, 2018 – Transmetrics, an AI predictive optimization Software-as-a-service solution for the cargo transport industry, announces it has been selected by the Silicon Valley-based venture accelerator Plug and Play, as one of 22 companies to join its Batch 3 accelerator program for supply chain and logistics startups.
Transmetrics’ products consist of data cleansing, advanced forecasting and predictive optimization modules to help companies optimize their logistics and supply chain operations.
Through the application of its technology, Transmetrics is enabling logistics and supply chain companies to significantly lower operational costs as well as helping them to reduce their impact on the environment. Many of the world’s leading logistics providers are now Transmetrics’ customers, including three global Fortune 500 companies. And some of these have experienced up to a 9% reduction in total costs thanks to Transmetrics’ solutions.
Picture Credit: Plug and Play
The 22 startups that have been accepted into Plug and Play’s logistics and supply chain accelerator program now have exclusive access to Plug and Play’s extensive accelerator resources, including mentoring sessions, exclusive networking events and business development matchmaking with industry leaders such as JD.com, Swiss Post, CMA CGM, BNSF Railway and Ryder. Plug and Play also actively invest in many of the companies participating in the program each year, as well as helping to unlock investment from other sources, which now totals more than $7 billion.
Entry into Plug and Play’s accelerator programs is a prestigious achievement for startups, with the acceptance rate for this year’s programs just 2%. By being accepted into the logistics and supply chain program, Transmetrics is placed in good company, as many previous participants have gone on to become business icons and households names, including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.
“Being one of the largest and most renowned accelerators for logistics and supply chain companies, Plug and Play gives us access to a myriad of clients, investors and industry experts. Additionally, by having an international reach, the program can facilitate the natural expansion of Transmetrics across the globe,” said Dimitar Pavlov, who’s leading Transmetrics’ participation in the Plug and Play Accelerator Program.
Pavlov added, “I would like to thank the organizers of Plug and Play for giving us the opportunity to make giant steps in our development and congratulate the fellow Logistics and Supply Chain startups for being selected to join the program.”
Transmetrics unlocks the power of Big Data and predictive analytics for the cargo transport industry. The company’s products consist of multiple steps – data cleansing, advanced forecasting and predictive optimization modules. Transmetrics’ products help companies make better, data-driven decisions and continuously improve their operational performance. Transmetrics works with the world’s leading logistics companies, including three global Fortune 500 companies.
About Plug and Play
Plug and Play is a global innovation platform headquartered in Silicon Valley. They provide accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since its inception in 2006, their programs have expanded worldwide to more than 20 locations, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, Plug and Play have created the ultimate startup ecosystem in many industries. Companies in their community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.
Tim Koroteev, Transmetrics Senior Marketing Manager