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Logistics Start-up FR8 Revolution Raises Approximately $8.5 MM Series A Funding Led By Volkswagen …

FR8 Revolution to supply totally free cloud-based tools to increase performance of $700B United States truck freight market San Francisco, CA (PRWEB) May 30, 2016 FR8 Revolution, Inc. (http://fr8.guru/), a Silicon Valley-based startup that develops complimentary cloud-based tools to improve efficiency in the $700B US freight trucking market, today announced that it has actually raised up to $8.5 MM from German business MALE Truck & Bus AG, a Volkswagen Truck & Bus subsidiary and leading international provider of industrial cars and transportation options. The Series A round brings the overall investment in FR8 Revolution to nearly $10MM and will help the business scale its operations and product advancement, permitting it to expand much deeper into the networked transport sector. Freight transportation in the United States is a significant industry with every truck fleet or “provider” looking for to enhance its paths to avoid backhauling empty trucks. Couple of providers today have sufficient tools to efficiently handle their excess capacity. As a result, many readily available capacity is offered to carriers through a network of 12,000 freight brokers. This secondary market, referred to as the “Area Market,” represents a 7th of the total freight trucking market or roughly $100B. Coordination in between brokers and carriers usually happens by phone, email and fax developing a fragmented, inefficient, and opaque market, in which it is hard for providers to completely use their trucks and shippers to compare prices and get consistent fees. “What FR8 Transformation is doing is offering the entire environment with a real-time transparent platform to help providers fill their trucks, shippers see actual capability and motorists acquire some control over their lives,” spokened Matthew Kropp, CEO of FR8 Transformation. “We are digitizing a market ripe for disturbance and today’s investment and partnership by Volkswagen-MAN will assist us accelerate this vision.” FR8 Revolution is currently in Beta with a planned launch this summer for its ope …
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