Trucknet is a cloud based transport optimization platform that utilizes smart freight exchange to improve efficiency & profitability while reducing environmental impact. Trucknet's platform enables trucking companies to minimize the empty truck rides of their fleet by interfacing and negotiating available rides with other trucking companies. The company was founded in 2014, by the founder and CEO Mr. Hanan Fridman – a serial entrepreneur with extensive operational experience.
The problem:
The global transport industry suffers from a wide inefficiency. Globally, 30% of the trucks & busses on the road are empty, meaning unnecessary fuel consumption, air pollution & Traffic congestion. While companies struggle to optimize their vehicles journeys, they also face difficulties to maintain and increase profitability in a very competitive market. Existing ridesharing solutions are focused on “last mile” and small packages while the majority of the market is based on full loads and inter-city transports.
Our solution:
Trucknet developed the first commercially available platform that offers Cross Company Optimization. Trucknet's systems allows transport companies to enjoy the benefits of an in house Transport Management Systems (TMS) on a global scale. Trucknet platform interfaces with existing Telematics companies and optimizes vehicle journeys by finding opportunities for cross company cooperation. From each successful match, Trucknet receives a commission.
The Market:
The European transportation market size is 330 bn Euros (EuroStat, 2015) with 78% of it based on land based transports. The market is expected to grow by 21% by 2025. 24% of the market is based on outsourced transports, meaning the market is willing to exchange freights. Across Europe 29% of the commercial vehicles on the roads are empty therefore there's an extensive room for improvement.
Technology:
Trucknet's system is based on GPS & TMS data. Its big-data platform receives transport data from different companies, where each transport is analyzed for inefficiency. Inefficient transports are found, and Trucknet’s algorithms then find optimization options, just like a TMS would do in-house for a transport company, but on a much larger scale, that allows finding solutions not available beforehand. The system takes into account additional criteria such as local regulations, vehicle type requirements and others.
Competition:
The major market's solutions (e.g. Timocom, Teleroute, ChronoTruck and other Freight Exchange markets) are mainly manual and limited (in vehicles & cargo updates, matching cargo & delivery). Trucknet on the other hand provides an automatic tool with advantages such as Analytics insights, Location tracking, Telematics integrations, Smartphone integration, Multi-data point integration and more.
Milestones & Vision:
Since its establishment, the company has completed a pilot in the Israeli market. Trucknet was chosen by the Israeli government to present its technology at COP21 and following the conference in Paris, Trucknet focused on the French market. The product has been launched in June 2017 and currently there are 5,000 registered companies & 380,000 Trucks in the system. The company has built strong partnerships with leading companies in France such as Credit Mutuel CIC Group, La Poste group-Viapost and Chronopost, Renault Group, CMA-CGM as well as with the most dominant Telematics companies in the market (Tomtom, Transics, Astrata, Trimble, Groeneveld). Another collaboration with Alert GasOil has lead to a mutual technological partnership which is implemented in both the French and Israeli logistics markets.
Investment: Trucknet is seeking A round investment of 9-10M Euro