freight broker
$60m in Series B Funding for Logistics Tech Startup
Adriana Pulley · November 18, 2022 · 1 min read
Written by Adriana Pulley
Australian truckload-sharing startup Ofload has raised $60 million for its digital road freight platform that sells access to empty truck space. The Series B raise was led by Singapore-based Jungle Ventures.
The investment signals the continued rise in popularity of shippers willing to pool together goods into one haul. In the US, the software-driven shared truckload platform Flock Freight reached unicorn status in October of last year. The company raised $215 million in Series D financing led by SoftBank Vision Fund 2.
Why is Shared Truckload An Attractive Option?
Customers avoid higher costs related to loading and unloading or paying for unused space.
Shipments are delivered more quickly, as well.
Carriers can fill trucks to capacity–increasing sustainability and profit.
The platform pools shipments in real time, maps terminal-free routes, and calculates the shipper’s risk with patented technology.
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