Indian-origin entrepreneur launches new digital freight platform in UK

In the UK, Indian-origin entrepreneur Mr. Jai Kanwar and co-founder Mr. Clemente Theotokis have introduced a new digital freight network, which they believe will reduce the cost of the supply chain by rising visibility and productivity and also resolve the issue of CO2 emissions.

Zeus Labs, a start-up based in the UK that was officially launched this week, is designed to collaborate between carriers and their customers to cater the freight and haulage industry’s various demands.

The platform began with businesses in the UK, the Netherlands, Hungary, Italy and Germany, with plans to reach the Indian market by 2021 end.

Mr. Kanwar said, “We see India as a major opportunity and the Zeus Labs platform is ideally positioned. India is a fragmented market and, we will adapt the software to meet its needs.”

He added that the platform would help to facilitate the possibilities for transport in India. Small transport companies that often lose out on having business will particularly benefit from it.

By using advanced algorithms and manual curation, the platform enables shippers and carriers to control their work, monitor their drivers and reduce the number of empty lorries and spare freight capacity on the roads.

It also provides a facility called "Circles" that allows shippers to collaborate with those they trust and engage only those shippers who, from a cost or specialist equipment point of view, are most appropriate for the job.

Mr. Kanwar said, “From the very beginning of the inception of Zeus Labs, we have been motivated by our desire to create a sustainable company that addresses the problems of road transport sector inefficiencies and costs. In addition, we decided to offer a chance to small transport companies to work with large shippers, which they could not because of long payment terms. Our financial capacity for instant pay helps us to fund the transporter immediately, and then we get paid by the shipper.”

Mr. Theotokis said, “We are optimistic about the ability to drive concrete and meaningful change in the supply chain of freight and transport.”

The co-founders collaborated with some of the largest freight companies in the UK to establish their digital alternative for shippers and hauliers prior to last year's operational prototype.

They believe that the resulting platform helps solve key inefficiencies in the supply chain, including wasted capacity, incorrect pricing, and searching the right trucker for the right task, leading to an 'equitable and sustainable' sector.

The freight sector can also significantly lower road congestion and, in turn, help reduce CO2 emissions through the use of a digitised platform.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.