Innovative start-ups are capitalizing on the high number of transactions and large amounts of data being handled and generated by logistics players to develop an expanding range of technology-driven solutions
Digital freight startups use technology to streamline the process of connecting truckers with shippers looking to move cargo. Such ventures drew more than $2 billion in investor backing between 2011 and 2020,
The growing sector of technology-focused upstarts has prompted traditional freight brokers to invest billions in technology to automate their operations.
Two of the most prominent digital load-matching startups say they are sticking with their plans to use their technology to grow organically, even as rival Uber Freight shifts gears with a big acquisition to speed up its path to profits.
The freight unit of Uber Technologies Inc. announced last month it is buying logistics service provider Transplace in a $2.25 billion deal. The acquisition comes as digital freight startups are looking to expand their market share and add services beyond transactional load-matching tools, while big transport companies are weighing acquisitions and hustling to scale up their own technology.
Established logistics providers have a window right now to capitalize on the energy and agility of digital startups.
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