Repowr, a collaborative logistics marketplace and digital-leasing platform, announced it closed a $4.2 million seed round. The round was led by Koch Disruptive Technologies, the growth and venture arm of Koch Industries Inc.
Also participating were Perot Jain Alliance, Plug and Play Venture Group and a number of strategic angel investors, according to the Birmingham, Ala.-based company.
The Repowr marketplace, through its shared-asset visibility and management technology, allows users to book underutilized trucks and trailers within minutes, the company noted.
“The amount of underutilized trailers in the supply chain is just mind-blowing and we recognized the opportunity and need to address this problem, which has ramifications across the entire supply chain,” Repowr CEO Patrick Visintainer said in a release. — Transport Topics