The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". It aims to transform the old way of shipping goods. This cookie is set by GDPR Cookie Consent plugin. Flock Freight (formerly known as AuptiX) is a company that uses technology to consolidate truck freight. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. ENCINITAS, Calif., J/PRNewswire/ - Flock Freight, a technology company that is reinventing freight shipping with its patented shared truckload service, today announced it has. “The company is truly disrupting long-standing shipping processes by leveraging a best-in-class management team and technology that overcomes the complexity of pooling freight,” said Dean Carlson of Susquehanna.Necessary cookies are absolutely essential for the website to function properly. Existing investors, including SignalFire, GLP Capital Partners and GV (formerly Google Ventures,) also participated. Flock Freight’s technology allows shippers to add their cargo to any empty truck space along the way.Īlong with Softbank Vision Fund 2, Susquehanna Private Equity Investments and Eden Global Partners joined this latest funding round. That’s happening more often as pressure builds to get goods from the docks to empty store shelves following the pandemic. With its pooling marketplace, Flock Freight contends less-than-full truckload shipments arrive faster and stay on the same vehicle, avoiding possible damage from being unloaded.įor full-truck transport, shippers sometimes pay for the entire truck even if it’s not completely full, said Zaslansky. FlockDirect pools partial truckload shipments that are going in the same direction onto one truck, helping to reduce freight-related emissions, while optimizing transit routes and times. The result is high costs and long transport times, said Zaslansky. Flock Freight is reimagining freight shipping with a first-of-its-kind shared truckload service promoting efficiency and reduced waste within the industry. The less-than-full truckload category typically uses a hub and spoke system, where goods are trucked to terminals, unloaded and then reloaded again on different vehicles until they reach their destination. It generally is split into two categories - shippers looking to transport less-than-full truckloads of goods, and those seeking to ship full truckloads. The freight business is enormous, said Zaslansky. Oren Zaslansky, Flock Freight CEO and Founder, a disrupting corporate logistics company, joins CNBC's 'The Exchange' after being ranked. “We are pleased to continue our support of Oren and the Flock Freight team as they aim to reinvent freight shipping.” “We believe Flock Freight’s technology has demonstrated the unprecedented ability to pool shipments in real-time, maximize trailer utilization, and reduce waste - while delivering high service quality,” said Andrew Straub, investment director at SoftBank Investment Advisers. The new funding brings the total amount raised by Flock Freight since inception to just under $400 million. It estimates more than 15,000 tons of emissions have been cut to date because of its technology, and it is on track to exceed its goal of 20,000 tons of CO2 emissions savings in 2021. SoftBank-backed Flock Freight raised 215 million in a new funding round supporting its load-matching technology to help shippers pool their goods on trucks to bypass. “We are the only company in the world that uses technology to fundamentally change the way freight moves.”įlock Freight’s technology increases efficiency and therefore reduces the carbon footprint of shipping, according to the company. “We are changing the rules,” said Zaslansky.
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