TGMatrix will be using the majority of its £565,000 of investment to develop its logistics software, which is poised to make the company the ‘Uber’ of the freight industry.
Despite pressure to make reductions, overall amounts of transport-related carbon emissions are still increasing. Freight trucks make journeys with little or no cargo a staggering 25% of the time – an incredibly costly inefficiency both from a monetary and carbon emissions perspective. TGMatrix has developed a complex algorithm that ‘matches’ shippers with distributors in a move that will streamline and transform the €900 billion industry while also reducing its carbon footprint. To illustrate this point, it’s estimated that TGMatrix could help bring about a reduction of 2,000,000 tons of CO2 emissions per annum in Europe alone, with knock-on benefits in reducing congestion and pollution.
With a team comprised of senior lifetime logistics professionals as well as software development experts, TGMatrix has both the practical knowledge needed to deliver its market solution, as well as access to large peer networks that the team has built over many years.
This round was led by Stephen Harley – recognised as a global leader in automotive logistics and supply chain management.
Where are they now?
TGMatrix has already secured the support of industry heavyweights such as Kimberly Clark, Sainsbury’s, PD Ports, Alliance Boots, Eddie Stobart as well as DHL, the largest global logistics company.