Birmingham-based logistics marketplace and digital-leasing platform REPOWR has closed a $4.2 million seed round.
The seed round was led by Koch Disruptive Technologies, the growth and venture arm of Koch Industries, along with participation from the Perot Jain Alliance and several strategic angel investors.
REPOWR said in a release the transportation equipment market has dissipated in the last two years, and fleets of all sizes need additional equipment, specifically trailers. The company’s marketplace through its shared-asset visibility and management technology, allows users to book underutilized trucks and trailers within minutes.
“The amount of underutilized trailers in the supply chain is just mind-blowing, and we recognized the opportunity and need to address this problem, which has ramifications across the entire supply chain,” said Patrick Visintainer, CEO of REPOWR. “Our job at REPOWR is to bring visibility and value to this ‘invisible trailer capacity’ so the assets keep generating revenue for owners and borrowers. These are valuable assets that all fleets – but especially smaller fleets – need, so we set out to introduce a network marketplace with book-it-now capabilities.”
REPOWR is currently working with truckload fleets in America to craft a collaborative asset-sharing platform. These early adopters have been equipped with the technology necessary to share assets among both internal teams and third-party networks. Users can deploy underutilized assets to the book-it-now marketplace, where asset owners can optimize trailer pools and reduce supply chain costs. The company sees networks as crucial to the success of future supply chains. During the peak of the 2020 supply chain crunch, REPOWR’s founding team saw the excessive amount of waste caused by the lack of visibility and collaboration in the commercial equipment space.
REPOWR’s upcoming products aim to revolutionize the transportation of freight. One such product, the Universal Trailer Network, enables users to set rules and permissions to share smart-trailer capacity with minimal human interaction.
