Business Stories
Nuport Receives Funding From US-based Freight Forwarder Flexport, Supply Chain Automation, and Nuport's Ambition
Founder Name: Fahim
Company Name: Nuport
Nuport announced that it has received an investment of USD$125,000 from ODX Flexport, an incubator program by Flexport and On Deck, designed to accelerate the next wave of logistics startups across the world. The Bangladesh-based company created a route optimization and distribution planning software for manufacturers and distributors that can save time, cost and improve productivity for these companies.
"Companies spend on average a minimum of 3 hours per day making delivery plans for approved sales orders and rarely have any visibility or control over their shipments once it leaves the warehouse," Nuport says in a press release. "Through automation, Nuport generates static route plans instantly saving 3 hours a day. This also allows the live monitoring of shipments by dynamically overlapping the actual route which can be monitored by an Android mobile app."
The investment and other supports will allow Nuport to accelerate product development and invest in growth.
The details: Founded in 2021 by Fahim Salam (Bangladesh) and Chris Li's (Canada), Nuport aims to optimize the distribution cycle by automating the route-to-market process for manufacturers, distributors, and e-commerce companies. The partners first identified the process problems these companies while working on their previous company Loop Freight.
"We are targeting manufacturing and distribution companies in Bangladesh", says Fahim Salam, Co-founder and Managing Director of Nuport. "We would also like to target local ecommerce companies in the coming days. Moving forward, we plan to work with freight forwarders such as Flexport and their partners to essentially automate some of their clients regionally so that some of the process bottleneck can be solved and streamlined."
As part of ODX Flexport, Nuport will be working closely with Flexport partners in executing a go-to-market strategy and scaling regionally. And with the fresh capital, the company plans to grow its engineering and sales team and expand its internet presence to reach regional companies with process bottlenecks and accelerate growth.
Nuport, currently a team of 9 people, says it has received excellent response from the market over the last few months. The company plans to use a combination of a great product, strong customer service and after sales service to break into the market.
"Companies spend on average a minimum of 3 hours per day making delivery plans for approved sales orders and rarely have any visibility or control over their shipments once it leaves the warehouse," Nuport says in a press release. "Through automation, Nuport generates static route plans instantly saving 3 hours a day. This also allows the live monitoring of shipments by dynamically overlapping the actual route which can be monitored by an Android mobile app."
The investment and other supports will allow Nuport to accelerate product development and invest in growth.
"We are targeting manufacturing and distribution companies in Bangladesh", says Fahim Salam, Co-founder and Managing Director of Nuport. "We would also like to target local ecommerce companies in the coming days. Moving forward, we plan to work with freight forwarders such as Flexport and their partners to essentially automate some of their clients regionally so that some of the process bottleneck can be solved and streamlined."
As part of ODX Flexport, Nuport will be working closely with Flexport partners in executing a go-to-market strategy and scaling regionally. And with the fresh capital, the company plans to grow its engineering and sales team and expand its internet presence to reach regional companies with process bottlenecks and accelerate growth.
Nuport, currently a team of 9 people, says it has received excellent response from the market over the last few months. The company plans to use a combination of a great product, strong customer service and after sales service to break into the market.
Flexport: Founded in 2013, Flexport is a freight forwarding and customs brokerage company based in the US. The Company offers air and ocean freight, trucking, warehouse and fulfillment, customs brokerage, and cargo insurance services to customers worldwide. In 2019, Flexport raised $1 billion invesin tment led by Softbank which valued the company at $3.2 billion.
ODX Flexport: Flexport launched ODX Flexport, a community-backed incubator in partnership with On Deck in November this year with a stated ambition to accelerate the next wave of logistics startups across the world.
The program provides $125,000 in funding for a 7% equity, a dedicated, experienced Flexport Build Partner and unlimited access to the On Deck network to selected companies.