Top Logistics & Supply Chain Tech Startups in the United States
The United States has always been at the forefront of innovation and entrepreneurship, with Silicon Valley being the hub of the global startup scene. The startup ecosystem in the US is diverse, dynamic, and thriving, with numerous incubators, accelerators, venture capitalists, and angel investors supporting the growth of new businesses.
The logistics and supply chain industry, in particular, has seen a significant transformation in recent years, with the rise of e-commerce and the growing demand for faster and more efficient delivery of goods. This has led to the emergence of numerous logistics and supply chain tech startups that are leveraging the latest technologies to disrupt the industry and solve complex logistical challenges.
In this article, we will explore the top logistics and supply chain tech startups in the United States that are leading the charge with their innovative solutions. From real-time tracking and predictive analytics to cloud-based logistics platforms and automation, these startups are revolutionizing the way businesses approach logistics and supply chain management. Let's dive in!
Top US Startups Transforming the Logistics & Supply Chain Industries
1) Convoy
Established in 2015, Convoy is the country's most effective digital freight network. Their mission is to carry hundreds of truckloads across the nation every day via an efficient, interconnected network of carriers, saving shippers money, boosting driver pay, and reducing carbon emissions for the environment. They employ data and innovative logistics solutions to address issues about inefficiency and waste in the $800 billion trucking sector, which produces over 72 million metric tons of CO2 emissions from empty vehicles.
In total, Convoy has raised $1.1 billion in investment across 9 rounds. Their latest funding was raised on April 21, 2022, from a Debt Financing round. As of April 21, 2022, Convoy has a post-money valuation in the region of $1B to $10B, according to PrivCo.
2) Flexport
Flexport is a San Francisco-based logistics and supply chain tech startup that is transforming the industry with its innovative solutions. The company was founded in 2013 and has since grown rapidly, with a valuation of over $3.2 billion as of 2021.
Flexport's platform provides real-time visibility into shipments, helping businesses optimize their supply chain operations and reduce costs. The company's cloud-based software integrates with a wide range of systems, including shipping carriers, customs brokers, and freight forwarders. This allows businesses to track their shipments in real-time, manage their inventory, and automate regulatory compliance.
Flexport's technology also provides predictive analytics and machine learning capabilities, enabling businesses to make data-driven decisions and optimize their supply chain operations. With its innovative solutions and customer-centric approach, Flexport is redefining the logistics and supply chain landscape and setting the standard for the future of the industry.
3) GreyOrange
GreyOrange is a technology-driven supply chain company that combines mobile robotics and AI-powered software to modernize order fulfillment and continuously improve warehouse operations. The GreyOrange fulfillment platform is the only completely integrated software and robot solution that uses advanced fulfillment science to instantly evaluate order data and create optimal decisions in real-time to effectively orchestrate people, processes, and robots. The outcome is a quick, nimble, and finely tuned operation ready to consistently satisfy the what-when-where demands of today's retail consumers.
GreyOrange has received $293.1 million in investment from 11 investors over the course of 9 rounds. Their most recent funding came from a Venture - Series Unknown round, which was raised on May 17, 2022.
4) Loadsmart
Founded in 2015, Loadsmart has since emerged as a leader in the digital freight space, leveraging technology to simplify the transportation of goods and make it more efficient and cost-effective. To be more specific, Loadsmart provides shippers, brokers, and carriers with access to their suite of award-winning solutions and data connections (which link supply and demand) to achieve the ideal balance of cost and service.
The company's technology provides real-time pricing and capacity information, allowing shippers to enhance efficiency and reduce costs. In addition to its digital freight solutions, Loadsmart also offers an API that integrates with a wide range of transportation management systems (TMS), providing businesses with a seamless and efficient way to manage their transportation operations.
5) Locus Robotics
Locus Robotics, located in Wilmington, is a well-established player in the warehouse automation industry, recognized as a leader in autonomous mobile robots (AMR) for distribution and fulfillment warehouses. By partnering with human workers, Locus Robotics' robots enhance the picking process, resulting in increased productivity, efficiency, and accuracy in warehouses.
Utilizing machine learning algorithms, the robots are able to identify and follow the most efficient routes while moving goods from one location to another. Moreover, LocusBots are supposedly more productive and efficient than conventional order fulfillment methods since they work safely next to people. Without rearranging or disrupting the warehouse, employees can complete more orders with less work.
As of today, Locus Robotics has raised a total of $416 million in funding over 7 rounds. Their latest round was completed last November, during which it received more than $117 million from lead investors Goldman Sachs, G2 Venture Partners, and Stack, along with existing investor Scale Venture Partners.
6) Nuro
Nuro specializes in the development and operation of an electric self-driving car fleet, dedicated to transporting various local goods. Their custom autonomous delivery vehicles are specifically designed to navigate residential areas, providing a practical, environmentally friendly, and secure alternative to conventional driving. By introducing autonomous delivery services to towns in Texas, Arizona, and California, Nuro aims to enhance city livability, improve traffic safety, and reduce overall driving. This logistics automation solution is expected to foster growth in these regions while simultaneously mitigating environmental impact.
With a mission to enrich daily life through robotics, Nuro powers its fleet of zero-emission vehicles entirely with renewable energy sources. In doing so, they not only contribute to the advancement of green technology but also actively engage with local communities. By embracing innovative solutions, Nuro creates new opportunities while prioritizing sustainability and the well-being of the neighborhoods they serve.
7) project44
project44, an innovative logistics and supply chain tech startup, is dedicated to addressing the technological challenges that affect the global supply chain. The company was founded in Chicago, a prominent logistics hub and thriving tech center, and has expanded its team to include members across the United States and worldwide. Collaboratively, they have developed the industry's foremost Advanced Visibility Platform™, catering to both shippers and logistics service providers.
Leveraging a team of industry experts, technology visionaries, and driven individuals, project44 is driving the adoption of real-time, transparent, and optimized shipping experiences. Since its inception, the company has been committed to revolutionizing the logistics and supply chain industry, empowering businesses with unprecedented visibility and efficiency in their operations.
8) Stord
Headquartered in the heart of Atlanta's thriving tech scene, Stord is an innovative startup at the forefront of cloud-based logistics platforms. In a nutshell, Stord offers businesses a modern and streamlined solution, leveraging the speed, flexibility, and user-friendliness of contemporary cloud software to establish, expand, and optimize their physical supply chain operations across freight, warehousing, and fulfillment.
Through Stord's platform, businesses gain access to a vast network of premier partner warehouses, fulfillment centers, and carriers. Additionally, Stord operates its own network of facilities, creating a hybrid network that provides seamless integration with just one connection. This integration grants businesses comprehensive visibility into their entire supply chain, all from a centralized dashboard. With Stord, businesses can efficiently manage their logistics operations, making data-driven decisions and enhancing overall supply chain performance.
9) Transfix
Transfix is a prominent logistics and transportation tech firm that has made a significant impact in the industry. Established in 2013 and headquartered in New York City, Transfix is revolutionizing the trucking industry with its innovative digital freight marketplace. The company leverages advanced technology and data-driven solutions to connect shippers with carriers, streamlining the transportation process and enhancing efficiency.
By bridging the gap between shippers and carriers, Transfix is bringing much-needed digital disruption to the traditionally fragmented and opaque trucking industry. Its platform creates transparency, efficiency, and reliability, allowing shippers to find the right carriers and carriers to access consistent loads. All in all, Transfix is driving the digital transformation of logistics and transportation, creating a more connected and optimized ecosystem that benefits both shippers and carriers alike.
10) Zipline
Zipline is a pioneering startup in the field of drone delivery services that is making a profound impact on the healthcare industry. Founded in 2014 and based in California, Zipline's mission is to provide on-demand medical supply deliveries to remote and underserved areas using autonomous drones. The company's innovative approach has the potential to revolutionize the way essential medical products are transported and delivered, particularly in regions with limited infrastructure.
One of Zipline's key strengths is its ability to rapidly respond to emergencies. Healthcare workers can place orders via text message, and Zipline's distribution centers can dispatch a drone with the requested medical supplies within minutes. This fast and reliable delivery system can be a lifeline for communities in need, especially during times of crisis or natural disasters when traditional transportation methods may be compromised.
Zipline's impact has been significant, particularly in countries like Rwanda and Ghana, where the company has established successful partnerships with governments and healthcare organizations. By providing reliable and efficient drone delivery services, Zipline is enabling healthcare providers to save lives by ensuring access to vital medical supplies in remote and hard-to-reach areas.
What's Next?
And there you have it - a list of 10 promising logistics and supply chain startups in the United States to keep an eye on in 2023 and beyond. These innovative companies are poised to make a significant impact and reshape the logistics and supply chain industries in the region. It's exciting to anticipate the future success and growth of these firms, as well as the emergence of similar ventures in the years ahead.
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