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    Date submitted
  • 04-Apr-2018

CARGOFY

Abstract

Cargofy is an AI-powered assistant for truck drivers. Trucking is a human-run business, controlled by dispatchers calling one another on the phone and sending emails and doing paperwork manually to confirm that trucks have made their deliveries. Our goal to automate this system and it’s why we created Cargofy.

Video

Additional Questions

Who is your customer?

Our potential customer is a man who loves freedom and makes decisions independently, from 25 to 60 years old, married, owns his own truck and has operating authority, earns from $50 to $120 thousand a year and has a smartphone. We calculated that there are about 350,000 potential customers for us in the US.

What problem does this idea/product solve or what market need does it serve?

Truck driver's problem is that they want to make money to ensure a good life for their families and do not waste their time making calls, searching for loads, checking the reliability of the shippers, forming documents, and waiting for calls from the freight broker. So these drivers currently have only two options: 1) to search for the loads themselves which lead to unproductive downtime, due to the fact that you can’t drive and search for loads at the same time 2) or hire a dispatcher. This sounds like a reasonable solution, but it's not profitable. Dispatchers take a 12% commission on average of the load’s gross revenue. We can conclude that both options are bad.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

The transportation market is massive, and many companies and platforms are trying to solve problems for owner-operators. So what makes Cargofy different? 1) We are a virtual assistant, sort of like “Siri for truck drivers,” that finds loads for the truck driver at any hour of the day without any human involvement. 2) We focus only on owner-operators and their needs and 3) The most important thing, we’ve already proved our platform works. In Ukraine, we have 3,000 active trucks using our app.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Why are we the best team to execute it? Before Cargofy we experienced success with traditional dispatching company Wozward, which allowed us to understand all the processes in the dispatching business. The company still exists and has 30 employees. And in 5 years, we launched Cargofy, and right now we have about 3000 active drivers in Ukraine. And now we brought this product to the US market with the help of the Iowa Startup Accelerator.