$990B worth of food is wasted every year and 14% of that occurs in transit. 45% of all food wasted consists of fruits and vegetables. Much of this wastage is due to problems with shipping. OPTIMIZ, founded by Kingsly Kwalar Kongnyuh, is a cargo claims management platform built for cargo owners, shipping lines, and insurers.
Currently, most businesses use multiple tools and systems to run their logistics operations – many of which are not fully digitised (even in large enterprises). This is problematic, as it’s hard to gather insightful data from disparate systems, and it’s even harder to make strategic changes! 7bridges uses AI-powered automation for its centralized and agile supply chain management platform. CPO and Cofounder Matei Beremski walks us through the company’s core technology, expansion plans, and recent round of funding from investors that include Crane Venture Partners and LocalGlobe.
Logistics in America is one of the fastest-growing private sectors of the economy, generating more than $1.6 trillion of spending (or close to 10% of GDP) in supply chain, transportation, and distribution investments.