Istanbul-founded logistics route optimising startup Optiyol has raised $810,000 in a seed round. Investors include automaker Ford Otosan’s Driventure, Fark Holding, Dinçer Logistics, Coşkunöz Holding, and Arya Women. The firm is reporting that the new funding will be used to further increase its presence in the US, European, and Middle Eastern markets. Optiyol has raised a total of $1.1 million to date over 5 funding rounds.
Through their offering, Optiyol customers report a 15-25% reduction in fuel costs, 5-10% reductions in fleet size, and increased on-time delivery rates by 20-30%.
Of note, the Optiyol investment from Ford Otosan is one of only two that the fund has committed to, and Optiyol’s tech is expected to be used in Ford Otosan’s heavy commercial brand of Ford trucks.
“As the worldwide transport capacity cannot meet the sharp increase in e-commerce volume, it is crucial to use the available resources more efficiently. Customers expect fast, free, and on-time delivery; in response companies need to both minimize their logistics costs and digitize their logistics processes,” comments CEO Ozan Gözbaşı. “How Optiyol differentiates itself from traditional solutions is that it offers both cost-efficient and practically feasible plans by incorporating field experience to its algorithms with a comprehensive data model.”