Oway - S24 - Y Combinator Companies
Welcome to Unpod, where we explore exciting startups backed by Y Combinator. Today, let’s talk about Oway, a company changing the way freight shipping works in the U.S.
Oway is like ridesharing, but for goods. It uses machine learning to match shipments with empty space in trucks. This helps small and medium businesses (SMBs) save up to 50% on shipping costs. In the U.S., about half of truck space goes unused every year, while SMBs struggle with high freight costs because they don’t ship large volumes. Oway solves this problem by filling those empty spaces efficiently.
Here’s how it works: SMBs can book shipments on Oway in just 30 seconds. The platform finds trucks already going to the same destination and uses their extra space. This not only lowers costs but also skips unnecessary stops at warehouses, saving time and reducing damage to goods. For example, shipping up to 8 pallets overnight could cost just $60 instead of $120.
Oway is great for truck drivers too. Most drivers are independent, and with Oway, they can earn up to $30,000 more each year by making a few extra deliveries. This is a big help since the average trucker earns around $65,000 annually.
Founded by Phillip Nadjafov, Oway is making shipping easier, cheaper, and better for the environment. By reducing empty truck space, it also cuts carbon emissions, making it a win for everyone.
Oway is making freight shipping smarter and more affordable while helping businesses and truckers succeed. If you liked this video, subscribe to Unpod for more stories about startups shaping the future!