Transmetrix: Stop Transporting Air
A Bulgarian company is transforming the transport and logistics business through predictive algorithms and artificial intelligence
There is a way for the logistics companies to become more efficient and reduce air pollution due to their activities. Transmetrics knows how…
for a new approach in transportation and logistics arose in 2012. This was when the business met Asparuh Koev and Anna Shaposhnikova. They both were consultants realising that a lot of money is wasted due to inefficient processes and lack of good optimisation solutions in the transportation sector. They recognised it as a technological niche and created Transmetrics – a startup that develops software solutions based on artificial intelligence and big data predictive analytics. Today, their clients are some of the largest companies in Europe with global operations: DHL, Kuehne+Nagel, DPDgroup, Gebrüder Weis, among them. They work with Bulgarian companies, as well.
The first step
to optimisation is to systematise the historical data of each company. “They all know that there are problems, but often have no traceability as to where their weaknesses and inefficiencies are,” explains Dimitar Pavlov, Director Business Development at Transmetrics. The software specialists process the data and prepare historical reports, while at the same time show the systematic weaknesses of each business that can be avoided. Another major problem emerges which affects forwarders connecting consignors and carriers and profit from the margin. Consignors often make their requests at the last minute and in order to serve them, forwarders are forced to urgently find trucks that cost many times more. To solve this problem, Transmetrics also makes predictions for future orders, and thus, forwarders can prepare their transport capacity to the maximum, according to the expected volume “without transporting air”. Optimisation algorithms additionally increase efficiency.
“In the logistics sector, a
is taking place at the basis of which lies the information technology and the artificial intelligence. Through them, complex tasks can be solved in a very short time. Clients expect fast and cheap delivery. And there is a risk for many companies to cease to exist or simply to be absorbed by bigger players if they don’t increase their efficiency,” Dimitar Pavlov believes. He, for example, came back from Austria. He worked for one of the largest logistics companies, but was drawn by the idea that business can be done in a new way through technology. And he didn’t even suspect that Transmetrics was in Bulgaria. The team now consists of more than 27 people. Many people from other countries work in the company, who graduated from the American university in Blagoevgrad and stayed in Bulgaria. Among them is Tim Koroteev from Belarus, the Marketing Director of the company, who is among its first employees.
– funding amounting to EUR 3.3 million has been raised from LAUNCHub Ventures and international business angels. What is more, at the end of last year, the company received BGN 3.25 million from the European Commission under the EIC Accelerator program. Tim Koroteev assures us that the ambitious team will keep on going with the conviction that Transmetrics is the new tool that will help logistics companies be competitive in the big race.