YC-backed Oway raises $4M to build a decentralized ‘Uber for freight’

Source: techcrunch
Author: Sean O'Kane
Published: 8/22/2025
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Read original articleOway, a San Francisco-based startup founded in 2023 and backed by Y Combinator and General Catalyst, has raised $4 million in seed funding to develop a decentralized freight platform akin to “Uber for freight.” The company aims to tackle inefficiencies in the U.S. trucking industry, where many trucks run with significant empty trailer space, representing a multi-billion dollar opportunity. Oway uses a combination of machine learning and automation to match cargo with available trailer space on long-haul routes, significantly reducing shipping costs. For example, Oway claims it can cut the cost of moving a sub-2,000-pound pallet from Los Angeles to Dallas from about $220 to as low as $60.
Central to Oway’s approach are electronic logging devices (ELDs), government-mandated devices installed on trucks to monitor driving hours and locations in real-time. These devices enable Oway to identify trucks with empty space on routes already planned, allowing shippers to place cargo more efficiently and cheaply
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IoTlogistics-technologyelectronic-logging-devicesmachine-learningfreight-automationtransportation-efficiencysupply-chain-optimization