Logistics startup Loadsmile rebrands as Ofload following $2.8 million seed round

Sydney logistics tech start-up Loadsmile, which only launched ahead of 2020’s coronavirus pandemic, has rebranded as Ofload and raised $2.8 million in seed funding, backed the world’s biggest shipper, Maersk.

Maersk’s venture arm Maersk Growth, led the round, which between March and July at the height of the lockdowns,  with support from global seed VC fund Global Founders Capital and pre-seed backer Flash Ventures.

Ofload’s seed round came six months after launch. The funds will support the startup’s Australian operations and build out the tech team as it looks to address the wastage in the road freight industry. The startup’s digital platform live matches shippers with vetted and reliable carriers―reducing empty miles and idle time for SMBs.

Ofload has on-boarded more than 700 carriers – BeCool, the last-mile logistics arm of HelloFresh was an initial supporter – in a virtual fleet of around 15,000 trucks nationwide. Around 30% of trucks in Australia are running with empty loads.

CEO and co-founder Geoffroy Henry said he was excited by the expertise and potential synergies the new investors bring to the table.

“Fundamental issues such as incredible amounts of waste, increased overheads and a legacy power imbalance are holding back Australia’s road freight and shipping industries at a time where efficiency is absolutely key,” he said.

Ultimately, transport companies want to reduce these inefficiencies and create a more sustainable industry, and we are making this possible, no matter their size.”

Maersk Growth venture partner Jeppe Høier said Ofload’s solution that fits with Maersk’s container logistics integrator strategy.

“We have monitored this space for years and invested in teams around the world succeeding in bringing shippers and carriers into the digital world,” he said.

“All supply chain stakeholders will benefit from Ofload’s technology, not least shippers looking to reduce their carbon footprint, as empty truck moves will be optimised.”