The investment will be used on Loadsmart's Smart Drayage initiative which aims to assist industry stakeholders rethinking the flow of shipping containers through the terminals and develop a free flow model to transmit goods faster through the largest American ports.
Last year, Maersk Growth invested in Loadsmart's AI freight booking, aiming towards providing a full service to shippers, who will be able to automate the truckload booking flow in the US.
Ricardo Salgado, CEO and co-founder of Loadsmart commented
The free-flow model moves the industry from container-specific to container-agnostic. It means that truck drivers will be given the best container available when they arrive at the port, having pre-agreed with a specific mileage band trip.
He added that the company forecasts that truck drivers will decrease the time of getting in and out of the port by at least 25%, whereas port operators will be able to reduce container shuffles by at least 50%, which is a huge efficiency gain.
Aside from Ports America and Maersk Growth, Chromo Invest and Connor Capital SB participated in this intermodal-focused investment, bringing the total investment in Loadsmart to date to $51.7 million.
In light of Maersk's participation in the project, the Maersk’s Chief Executive has already discussed the company's aspiration on boosting its logistics sector.