San Francisco-based freight startup Oway has raised $4 million in seed funding to build what it calls a decentralised “Uber for freight.” The round was backed by Y Combinator and General Catalyst.
Founded in 2023 by Phillip Nadjafov, Oway is tackling inefficiencies in the U.S. trucking industry, where many semitrailers run only half full. Its platform uses AI and machine learning to match available trailer space with cargo shipments in real time, leveraging electronic logging devices (ELDs) mandated across trucks for tracking compliance.
By combining route optimisation, automated freight documentation, and real-time vehicle data, Oway claims it can cut pallet shipping costs between Los Angeles and Dallas from $220 to as low as $60.
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Nadjafov says the model combines the speed of full truckload shipping with the cost savings of less-than-truckload logistics, all while reducing damage risks and carbon emissions.
Currently a 12-person team, the company is focused on the U.S. market but has already attracted interest internationally. It is working with large, undisclosed fleet operators and aims to transform freight logistics into a $100 billion market opportunity.
“You shouldn’t need to buy a whole 50-foot truck to move a single heavy box across the country,” said Nadjafov. “With current technology, we can make long-haul shipping cheaper, faster, and more sustainable.”
