Sydney-based logistics start-up Ofload has raised an additional A$3.8m ($2.8m) following increased backing from seed investors Maersk Growth and Global Founders Capital and pre-seed investor Flash Ventures, alongside new investor Foundamental.
Ofload is working to transform the Australian road freight industry. Formerly known as Loadsmile, Ofload is a digital platform for road freight striving to achieve zero waste in trucking by empowering the long tail of small to medium-sized carriers through technology. Its platform connects shippers with carriers. Ofload matches fleet and route coverage with appropriate loads, enabling more orders and less empty backloads.
“We continue to experience rapid growth as shippers and carriers are resonating with our approach that’s rooted in empowering Australia’s road freight industry and reducing wastage. The industry is fragmented and riddled with inefficiencies—trucks are rarely entirely full and millions of empty kilometres are driven every year, while overheads have increased. This has made it harder for the long tail of owner/operators and small to medium businesses to compete against the industry powerhouses,” said Geoffroy Henry, founder and CEO of Ofload.