The startup has developed a ride-share freight platform that connects independent truckers with available trailer space to facilitate overnight shipping of freight. This service addresses the inefficiency of underutilized trucking capacity, providing clients with a cost-effective solution for urgent shipping needs.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional less-than-truckload (LTL) freight shipping often involves high costs and potential delays due to underutilized truck capacity. Many trucks operate with empty space, leading to inefficiencies in the shipping process for smaller pallet shipments.
Solution
Oway provides a rideshare freight platform that connects shippers with vetted independent truckers who have available trailer space on their existing routes. By leveraging this unused capacity, Oway offers a cost-effective solution for overnight pallet shipments, with savings of up to 50% compared to traditional LTL rates. The platform automates paperwork, signatures, scheduling, and pricing, streamlining the shipping process for both shippers and carriers. Oway includes $100K cargo insurance and a satisfaction guarantee, ensuring a secure and reliable shipping experience. Same-day pickups are available in as little as one hour, providing a faster alternative to standard LTL delivery times.
Target Audience
Oway primarily targets small to medium-sized businesses (SMBs) and logistics coordinators seeking affordable and efficient solutions for shipping 1 to 10 pallets, as well as independent carriers looking to maximize earnings by utilizing empty truck space.
Features
- Automatic rideshare matching algorithm connects shippers with available truck space in minutes
- Instant quotes generated in 15 seconds without requiring exact weight or dimensions
- Automated generation of Bills of Lading (BoL) and shipping labels
- Real-time tracking and status updates for shipment visibility
- $100,000 cargo insurance included in all pricing
- Full refunds offered for service failures
- Option for consignee payment via shareable payment link