Amsterdam-based logistics startup Quicargo that connects empty trucks with companies that need them has raised €3 million in a funding round led by SLJ Investment Partners. SLJ's founder Rene Dahan will join the startup's advisory board.
Quicargo is a platform that aims to solve the problem of empty lorries travelling around Europe every day due to planning inefficiency. The startup says that more than half of all lorries on the European roads are at least partially empty. The Dutch startup connects businesses in need of transportation to the empty vehicles using its proprietary algorithms.
The company is planning to use the new funding to scale up its operations in the Benelux and Germany.
"Up until now, we’ve worked with large and mid-sized trucking companies to control the quality of service and create credibility in the market,” said Avishai Trabelsi, co-founder and CEO of Quicargo. In the current market, these trucking companies are struggling with growing demand due to the lack of drivers and increased congestion. “ We are now approaching smaller trucking companies as well. At the moment, they mainly work as sub-contractors or in very limited regions because they often don't have the resources for proactive sales and marketing. We enable them to become more flexible and connect them directly to the available demand in the market, which will benefit their margins.”