Hwy Haul closes $10M funding round to accelerate growth, expansion
Hwy Haul, a next-generation digital freight platform that connects fresh produce shippers with reliable truckers to eliminate intermediary friction and deliver sustainable, reduced waste and business-class shipping experience, announced the closure of a $10 million funding round, bringing its total funding to $20.6 million. The round was led by Eileses Capital and included investments from True Blue Partners, BluePointe Ventures and FDC Partners.
The company said today, many shipping organizations are reliant on outdated, inefficient methods to navigate a complex supply chain. This challenge is amplified when considering the importance of low cost, reliability, visibility and communication for shippers transporting perishable food items and consumers, alike. The recent pandemic exacerbated these difficulties, prompting the shipping sector to turn to digitalization to better manage complex and interconnected supply chains.
Hwy Haul reimagines the future of logistics with an advanced platform for shippers and carriers, making on-demand shipping more attainable, reliable and accessible than ever before by leveraging automation processes to simplify internal operations and keep costs low. The platform is built ground-up using sophisticated optimization algorithms, artificial intelligence and machine learning.
The key priority of this funding round will be to establish direct relationships with enterprise accounts. This will include some of the largest food and produce shippers, growers, distributors, wholesalers and retailers in North America.
"The past two years have underscored the importance of efficient, transparent, and resilient supply chains. At Hwy Haul, we are committed to being a part of the solution, helping digitize the value chain for perishable goods while elevating the experience for shippers and carriers," said Syed Aman, founder and CEO of Hwy Haul. "We are excited to enter this next phase of our company's growth in partnership with our investors, shippers and carriers."
"The food and fresh produce supply chain is a vital network affecting multiple industries and it faces immense challenges today," said Kishore Bopardikar, founder and managing partner at Eileses Capital. "We are excited to lead this investment round for Hwy Haul as they digitize the overall supply chain experience, making it more accessible and affordable for all parties."
"We have partnered with Hwy Haul since the very beginning of its journey to be the leader in improving spoilage in fresh produce, fuel wastage and related environmental impact, freight costs and real time visibility and collaboration. Hwy Haul has deliberately built the operating infrastructure to support the leading and most demanding companies in the fresh produce industry," said Sunil Grover from True Blue Partners. "The company is now going toe-to-toe with the incumbent market leaders and winning. We are very excited about doubling down on our investment partnership in its next phase of sustainable growth."