A significant expression of trust in Trucknet
Institutional bodies and a private investor will invest NIS6.5 million in the company
The investors in the issuing include the Arbitrage Value Fund (Shlomi Ardan Group), Meitav Dash and Yossi Avrahami
The scope of the recruitment could increase by another NIS8.4 million and reach NIS15 million, assuming full exercise of the options
The recruitment was made at a price 38% higher than the issue price and 6% higher than the closing price yesterday (not including the advantage inherent in the options)
According to Hanan Fridman, CEO and founder of the company, “The recruitment will enable the company to hasten achievement of its strategic plans to expand into new markets in general, and the United States in particular, and to highlight value for the company and its shareholders. The US market is considered to be the largest and most significant in the world, with about 1.2 million shipping companies and 73 million trucks for which Trucknet can offer its solution “
“The change in the US government and the Biden administration’s new policy on greenhouse gas emissions could certainly lead to legislation and regulations that would significantly promote the solution we propose; therefore, the timing of entry into the US market is dramatic for us”
“We are pleased to welcome the new partners joining the company, expressing confidence in Trucknet’s expanding technological development and the ability to continue growing”
Israel, (Tel Aviv:Tran), Trucknet that developed a platform enabling smart matching between available capacity for haulage in trucks and cargo in order to improve efficiency and profitability for companies, announces today that it has recruited NIS6.5 million from a group of financial investors including the Shlomi Ardan Group (Arbitrage Fund), Meitav Dash and the contractor Yossi Avrahami
The Company
Trucknet Enterprise provides a green, cloud-based ALL-IN-ONE digital platform that enables transportation and logistics companies to reduce transport costs and save resources by optimizing shipments across all modes of transportation, through artificial intelligence (AI), business intelligence (BI) and ML machine learning). The platform includes an online tool for calculating CO2 emissions from vehicle fleets and offers smart automatic matching between trucks and cargo, based on location. In addition, an easy and fast payment solution is available for the B2B market
Trucknet’s platform enables transportation and logistics companies to significantly minimize empty rides through automatically prioritizing available vehicles with other transport and logistics companies. Based on location, the system carries out smart matching between empty trucks and available cargo
Trucknet’s solution enables full automation and optimization for land transport for companies managing commercial vehicle fleets and for customers of logistics services. The system assists companies to significantly lower service costs and improve efficiency and profitability through reduction of the number of empty trucks on the roads. This results in a reduction of air pollution and GHG emissions, traffic accidents involving trucks as well as less damage to the environment
The Company aims to establish a unique professional system in the area of shared transport. Trucknet’s software platform interfaces with all leading work scheduling systems, TMS and leading telematics systems. Transport companies can improve and optimize vehicle fleet management and sharing of resources, by mutual use of digital documents (without the need to print). Trucknet has developed user-friendly interfaces for the driver and for the end customer offering complete connectivity, monitoring and transparency as well as providing solutions for payment through the system
Trucknet operates in the international transportation and logistics market, which is assessed at about $19.36 trillion. As of 2020, the Company has approximately half a million trucks connected from roughly 4,000 companies. Some data from the world about trucks that travel empty (without cargo): in Europe 27% of trucks on the roads run empty, in the United States 36% and in Asia 46%
Trucknet conducted a joint pilot project with the Renault Group during October 2020, in which a connection was made to Renault’s Bid system that tenders each work order. Through the system, contractors were identified on the basis of their location in relation to Renault’s requests. The pilot proved that connection to Trucknet’s platform led to improvement in the efficiency and profitability of logistics services by 17%; savings achieved were up to €115,000 in two weeks for 268 trips out of a total of 371 (68% success rate)
The results of the pilot demonstrated the platform’s ability to improve efficiency and save transportation costs for logistics companies. This is due to the fact that the Trucknet platform adjusts shipping orders for (transport) contractors, based on their geographical proximity to the location of cargo, thus, allowing them to submit lower price proposals and save costs
The Company, established in 2016 by CEO Mr. Hanan Fridman, employs approximately 40 people spread across offices in the world. Trucknet has signed agreements and pilot projects with leading companies in and outside Israel, including DSV, La Poste, DPD, ChronoPost, Allcargo, Israel Post and more
