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Decentralized Logistics Market-Network
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$1,069,871.94 Raised
REASONS TO INVEST
TEAM
Luciano Bonaldo • Board Member
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Jim Handoush • Co-founder, CEO, and President
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Douglas O' Keefe • Board Member
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Overview
Tap into the Power of dexFreight
With dexFreight, users can find loads and capacity, negotiate online with multiple parties simultaneously, cryptographically sign agreements using smart contracts, and share electronic documents. Additionally, users can track shipments in real-time, settle transactions, and complete payments, effectively digitizing and automating the whole shipment lifecycle. dexFreight is complementary to TMS/FMS, ELDs, and loadboards. Our network is using web3 infrastructure to virtually consolidate the logistics industry while enabling the right tools to better utilize today’s existing capacity.
Our Vision: Be the facilitating force that coordinates world logistics, encourages collaboration and incentivizes a fair equitable distribution of value.
Our Mission: Build the universal decentralized, open-source network that enables collaboration and facilitates the coordinated movement of goods while bringing liquidity to the supply chain.
The Problem
A Multi-Billion Dollar Communication Problem
We are working to solve the two major problems of the logistics industry: fragmentation and lack of liquidity.
Fragmentation
We are initially focused on the trucking segment of the logistics industry, this $790B segment (source) in the U.S. is made up of 900,000+ trucking companies, 91% of them running 6 trucks or less. (source) 17,000+ freight brokers and millions of shippers, all using different Transportation Management Software (TMS), Fleet management software (FMS), load boards, electronic logging devices (ELDs) and other individual systems, which causes each individual company to function in its own closed network. This results in a lot of waste, (source) with 1 out of every 4 trucks running empty. Loads and capacity can not be efficiently matched, much less optimized if they live in different networks and cannot see each other. While there is a lot of discussion about the driver shortage being the root cause of the inefficiencies, we believe the solution starts by better utilizing our current active capacity.
Lack of Liquidity
In order to get paid quickly, trucking companies often end up selling their invoices with unnecessarily high interest rates.
Normally, trucking companies get paid after 37 days of providing their services. In the meantime, truckers have to pay for gas, tolls, and other expenses, causing cash flow issues. Given that most of these trucking companies are small businesses, they often solve their cash flow issues by factoring in their receivables for a 3% fee.
The Solution
A Decentralized Logistics Infrastructure
Reaching real optimization in trucking and logistics can not be done at scale with multiple siloed platforms competing for data and market share capture. dexFreight is bringing optimization through a cooperative backend, where carriers, freight brokers, shippers, and other industry service providers like ELDs, TMS, and load boards can connect and exchange live market information safely, experience cross-company workflow automation through the use of smart contracts, and most importantly, preserve the privacy and ownership of their data. This is the solution to the multi-billion dollar empty mile problem. (Source)
Since every agreement in dexFreight is cryptographically signed by the transacting parties, a digital representation of each rate confirmation is created using NFTs or non-fungible tokens through our patent-pending technology. These digital assets with a defined dollar value are used as collateral to source liquidity in the deFI (decentralized finance) ecosystem, giving users access to immediate, cheaper, and programmable financing options, effectively getting carriers paid as soon as they deliver, hence solving the liquidity problem.
The Market
A Growing Network Promising to Connect the Entire Logistics Industry
Even though dexFreight is designed as a global scalable platform for multiple modes of transportation, our initial focus is the US trucking market:
TAM: 2019 Domestic US Trucking market $791 billion USD (source)
SAM: For-hire full truckload market is $360 billion USD (source)
SOM: Our 5th year goal is to process 2% of the for-hire full truckload market, $8 billion (USD) by year 2025 in the US.
Our Traction
Miles of Milestones
In 2020, 16.5 million shipments were posted in dexFreight worth over $18 billion dollars giving plenty of options to carriers in the network, as a result over $2.1 million in freight spend were booked and processed on dexFreight.
In July 2020, we launched the beta version of our decentralized invoice financing solution “dexFI” (patent pending), this service is valued by carriers and brokers so much that 12% of all transactions were financed using it, generating $328K in topline revenue.
In Q3 2020 we added drayage to our marketplace, this functionality helps to streamline the process of moving containers between ports, ramps, and warehouses. This service was well received by our users since it helps them deal with the port congestion and capacity crunch caused by the COVID-19 pandemic. (Source)
We are currently working in partnership with Hutchison Ports ICAVE, the operator of Port of Veracruz, to release our drayage functionality as the spearhead for the Mexican market. (Source) Hutchison Ports is one of the largest port operators in the world. Veracruz, one of the 5 ports they operate in Mexico, moves over 1.12 million twenty-foot equivalent units (TEUs) making it the third busiest container port in Mexico and the most important in the Gulf of Mexico. (Source)
Today, we have over 2,700 companies registered in the network. Our main focus is to accelerate adoption through strategic partnerships with other freight-tech platforms and through the release of features and incentives for carriers to book loads already available in dexFreight.
Industry Recognition
Throughout the journey of developing dexFreight, we have played an important role in educating the industry about the potential of blockchain technology. As thought leaders, we have been speaking at some of the most important events for the freight and blockchain industries, including SXSW, MarketWaves, Transparency 19, BITA, TIA Conference, LaBitConf, Blockchain Academy Mexico, SmartFlorida (formerly known as Florida Blockchain Foundation).
Our efforts have been rewarded with nominations to multiple awards:
- Blockchain Awards Latin America as an "Inspiring Project" for our contributions to the ecosystem. (Source)
- FreightWaves FreightTech 100, one of the most disruptive and innovative freight technology companies in 2018, 2020, and 2021. (Source)
- Supply & Demand Chain Executive magazine as an SDCE 100, one of the top supply chain projects in 2019 and 2020. (Source)
At the end of 2019 we were selected among 225 competing companies for the 500 startups Miami Growth Program, and successfully graduated in batch #2. More recently we have completed the Endeavor scale-up program in Q2 2021.
We are also proud to be included in the World Economic Forum’s whitepaper, highlighting the deployment of blockchain for supply chains (Source).
Partnerships
As entrepreneurs solving some of the most challenging problems in logistics, we are often trying technologies not necessarily available to the general public. Forging partnerships and closely working with the teams behind these innovations, is critical to evaluate and successfully implementing them. Here are some examples:
MakerDAO, Centrifuge, Ocean Protocol, Chainlink, RIF Blockchain Solutions, RSK, Money on Chain, TruckerCloud, TruckPark, TAI TMS, Port community of Veracruz.
It is very important for us to deeply understand our customers, and actively participate in industry discussion, being part of industry associations helps us achieve those goals, here are some of the associations we are members of: Blockchain in Transport Alliance (BiTA), and the Florida Blockchain Foundation (FBF).
What We Do
Streamlining Logistics for a Better World
We are taking to market a FinTech-enabled logistics market network, and the necessary underlying web3 infrastructure (decentralized protocols and peer-to-peer communication layer), to enable freight-tech companies to safely exchange real-time loads and capacity availability, while preserving the ownership of their data.
In the dexFreight market network, users can…
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Find loads and capacity
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Negotiate online
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Verify the reputation of counterparties
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Establish agreements and rate confirmations using smart contracts
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Share electronic documents
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Track shipments
Settle transactions and complete freight payments.
Our mobile application, available in both Google and Apple stores, is designed for drivers and owner-operators to manage the whole shipment life cycle, providing smart routing, recording geofenced events, and collecting signatures for documents like bill of ladings, proof of delivery, etc. These events trigger the workflow in the smart contract automating processes between companies from booking to payment.
Machine-Learning Algorithms
Instead of reaching out to brokers for their available loads or posting trucks in multiple load boards spending hours hoping to find a match, carriers can use dexFreight machine-learning algorithms that automatically find the best loads for their equipment.
ELD Providers
Our platform is connected with 80% of the ELD providers so the network knows the position of the equipment in real-time, and the driver's location relative to their HOS (hours of service) clock for better load matching.
Smart Rate Confirmation
One of the most important innovations is our Smart Rate Confirmation. Using smart contracts once the terms and conditions are set and signed by the parties, it secures them in the blockchain so they cannot be changed without your approval and electronic signature. These agreed terms and conditions will self-execute, meaning if users deliver according to terms, your payment will be executed as agreed.
The Business Model
A SaaS Model to Keep Your Shipments Moving
Different from other platforms, dexFreight does not extract rent from every transaction. Our freemium business model focuses on optimization at scale, allowing users to match loads and capacity at no cost while delivering value-added solutions through premium services and SaaS tools including:
- Immediate payment to carriers (dexFi)
- Price predictions (dexRate)
- Drayage marketplace
- Optimized load selection
- Load consolidation and load chaining.
- Smart routing considering HOS, fuel, weather, parking, and other variables.
- Third-party services.
Alternative Invoice Financing with dexFI
Quick payment to carriers is now more important than ever before with shippers and carriers competing for capacity. dexFi, a patent pending low-cost alternative to invoice factoring, enables our users to pay carriers as soon as they deliver without compromising their cash flows.
How We Are Different
Leveraging Smart Contracts and Machine Learning to optimize at scale.
A smart contract is a computer program that contains the terms of the agreement between parties directly written into lines of code. The code and the agreements contained therein, exist across a distributed, decentralized blockchain network and are intended to automatically execute, control and document relevant events and actions. As a result, transactions are trackable and irreversible.
We are using this powerful technology to facilitate transactions between freight companies that don't necessarily know or trust each other. By providing an immutable performance-based reputation system and standardized business rules, we reduce the cost associated with slowly building business-to-business trust, which usually relies on unenforceable legal agreements like rate confirmation sheets.
At a larger scale, we used the same principles to implement the necessary protocols to create an open logistics network; designed as a network of networks for freight-tech companies to exchange live market information (real-time loads and capacity availability). This enables end-users to book shipments across multiple networks without having to leave the platform or systems they currently use. This is the solution to the walled garden problem, where shipments and capacity can not be matched because they reside in siloed networks.
This open network combines all available loads and capacity, enabling freight-tech companies to leverage the full power of machine learning algorithms to match and optimize at scale, removing the inefficiencies of the system and gradually reducing empty miles driven by trucking companies. Furthermore, they can develop new products and services to their customers by leveraging the booking to payment functionality powered by blockchain-based agreements and payment rails.
For Techies
The Vision
En Route to Global Leadership
dexFreight's vision is to simplify logistics for a better world by enabling coordination at scale, encouraging collaboration, and incentivizing a fair and equitable distribution of value.
We plan to expand globally with the 2022 release and rollout of the Spanish version of our Web 2.0 platform in Latin America. By 2023, we expect to reach 1 million full truckloads and drayage shipment processing with freight spend over $1 billion.
By 2025, dexFreight aims to process $8 billion in freight spend on shipments from booking to payment. By then, we will be a global technology player in the logistics industry servicing additional verticals with presence in the Americas, European and Asian Markets.
WHY INVEST
Logistical Leaders
With an average of 20 years of experience, managing and growing both SMBs and Multi-billion dollar organizations, our multidisciplinary leadership team brings together the necessary knowledge and capabilities in logistics, technology, and entrepreneurship. We understand firsthand the pains and challenges of the industry.
Message From Our CEO
Over $28 billion has been invested in logistics by VCs since 2018. The rise of Amazon and eCommerce has increased the ever-growing importance of efficiently moving goods. With COVID-19 impacting the economy, finding an efficient method for shipping products has only grown.
As an industry made up primarily of small businesses working independently from one another, such fragmentation leads to massive inefficiency and waste.
dexFreight leverages the power of blockchain technology and self-executing contracts (smart contracts) to streamline and improve logistics back-office operations. Our solution focuses on better utilizing existing market data to provide more efficient solutions and visibility to the industry.
The dexFreight team is composed of proven experts in transportation and technology. Our current investors and early adopters are from the industry. They believe the industry needs a new solution to assure the efficient movement of goods more cost-effectively and the flow of payment to those providing these much-needed services.
The industry is ripe for improvement. With dexFreight, the solution is just within reach. Join us!
- Jim Handoush, CEO and Co-Founder
(or click)
ABOUT
HEADQUARTERS
1401 Sawgrass Corporate Pkwy
Sunrise, FL 33323
WEBSITE
View Site
TERMS
dexFreight Inc.
Overview
PRICE PER SHARE
$1.95
DEADLINE
Mar. 29, 2022 at 6:59 AM UTC
VALUATION
$30.05M
FUNDING GOAL
$10K - $1.07M
Breakdown
MIN INVESTMENT
$390
MAX INVESTMENT
$109,200
MIN NUMBER OF SHARES OFFERED
5,128
MAX NUMBER OF SHARES OFFERED
548,714
OFFERING TYPE
Equity
SHARES OFFERED
Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
Voting Rights of Securities Sold in this Offering
Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
*Maximum number of shares offered subject to adjustment for bonus shares. See bonus info below.
Investment Incentives and Bonuses*
Time Based:
Champion:
Invest within the first 10 days from launch and receive 20% bonus shares.
Early Bird:
Invest between 10 - 20 days from launch and receive 10% bonus shares.
Supporter:
Invest between 20 - 30 days from launch and receive 6% bonus shares.
Amount Based:
All investors
Regardless of the investment amount, will be provided access to our community Slack channel, Telegram channel, and receive a dexFreight branded tumbler.
Tier 1 (< $1000)
Receive 5% bonus shares and a 10% discount on dexFreight platform products for 6 months.
Tier 2 ($1000 - $4999)
Receive 8% bonus shares and a 15% discount on dexFreight platform products for 8 months.
Tier 3 ($5,000 - $25,000)
Receive 12% bonus shares and a 20% discount on dexFreight platform products for 10 months.
Tier 4 (> $25,000)
Receive 15% bonus shares and a 25% discount on dexFreight platform products for 12 months.
Disclaimers:
1. Investors can receive either a time-based or an amount-based bonus (whichever is greater), but not both.
2.Platform discounts are tied to amount of investment regardless of when the investor purchased the shares.
3. Platform discounts will apply regardless of number of users in the company.
4. The discounts do not apply for our Next Day Payment services.
5. Trucking companies and freight brokers in order to receive the platform discounts must be registered with FMCSA/USDOT and have an active authority at the time of registration into the platform.
6. Platform discounts are valid for the said number of months from the time a company self registers in the platform. If the company is already a registered user in dexFreight, we will activate/provide the discount accordingly. In order to receive the platform discount, please send the name of the investor(s) and a documented proof that the investor is affiliated or employed by the company. Such proofs may be a LinkedIn profile or email from the company owner/director attesting that the investor is employed or affiliated with the company.
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
dexFreight, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.95 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $195. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Irregular Use of Proceeds
PRESS
ALL UPDATES
03.29.23
dexFreight Secures Patent to Bring Mass Adoption of DeFi to Supply Chain
Dear Investors and Community,
We have some exciting news to share with all of you!
dexFreight, has been granted a USPTO patent (Patent No.: US 11615375 B2) for its innovative method for electronic management of supply chain factoring with shared state storage in a distributed ledger.
The U.S. Patent and Trademark Office awarded the patent on March 28, 2023, with the company's co-founders Adrian Giannini, Rajat Rajbhandari, Hector Hernandez, Ricardo Escobar, Jim Handoush, and advisor Renat Khasanshyn, credited as the inventors.
dexFreight has developed a new technology that allows supply chain invoices to be turned into digital tokens using a distributed ledger system. These tokens have a lower risk profile and can be used to obtain liquidity from decentralized pools through an automated process. This results in quicker transactions and lower financing fees for users as an alternative to traditional factoring.
"This patent represents an exciting opportunity to bring DeFi to the supply chain industry on a global scale," said Rajat Rajbhandari, CTO/CIO of dexFreight. With this patent, dexFreight aims to facilitate lower-cost access to liquidity for small and medium size trucking companies in the US and abroad. For instance, in the trucking industry, drivers often have to wait for 30-45 days to receive payment for delivering a load. dexFreight's innovative solution will usher in a new era of cheaper, faster, auditable, and traceable transactions in the supply chain industry.
dexFreight's groundbreaking invention is a game-changer for the supply chain industry, providing a novel solution to the challenges that companies face in managing their cash flow.
03.22.23
Tomorrow: Join dexFreight's Live Investor Webinar
Dear Investors and community,
Tomorrow, Thursday, March 23rd, our founding team will host a Live Investor Webinar. We will share valuable insights about the company and answer any questions you may have.
You can reserve your spot. HERE.
Looking forward to seeing you tomorrow!
03.16.23
Sign Up for dexFreight's 2023 Live Investor Webinar on March 23rd
Dear Community,
It's been a while since our last webinar! Join our Founding Team next Thursday, March 23rd, as they provide an exclusive look at the company's progress, milestones, and future roadmap.
03.09.23
dexFreight Progress Report | February 2023
Dear Community,
We are pleased to present our progress report for the month of February, highlighting the progress and achievements made by dexFreight.
Launch of Carta Porte:
We announced the launch of Carta Porte, a new feature exclusively for our Mexican customers. This feature streamlines the process of creating and managing digital shipping documents required by Mexican law for all commercial freight shipments. Read More
dexFreight becomes a technology provider in the SMARTPORT ecosystem:
SmartPort is a platform launched by Hutchison Ports, that connects their customer companies and service providers, allowing them to share data and access all the services available more efficiently. As a service provider of SMARTPORT, dexFreight is expected to expand its reach and enhance its offerings in the Mexican market.
New Publications:
During the month of February, we published two blog articles:
- Fundamentals of NFTs for Businesses: This article explores the basics of NFTs (non-fungible tokens) and how they can benefit businesses in various sectors, including the freight industry. Read Article
- Decentralized Finance Can Bridge the Liquidity Gaps for Small and Medium-sized Companies: This blog post explores the potential of DeFi, and how dexFreight is applying this technology to source inexpensive liquidity to fund invoices of trucking companies. Read Article.
Our Team continues developing dexFreight's innovative technology and setting up new strategic partnerships to expand our services to more customers in the U.S. and Mexico.
Regards,
The dexFreight Team
02.27.23
dexFreight Integrates with SkyAngel to Enhance Freight Monitoring
Dear Community,
We are pleased to announce the integration of dexFreight with SkyAngel, one of the largest asset-tracking providers in Mexico, with 2.4 million monitored operations in 2021.
Integrating dexFreight's logistics platform with SkyAngel's monitoring technology allows users to track the exact location of their shipments, providing a seamless experience from booking through delivery. dexFreight users will be able to monitor trucks by entering the license plate without installing additional software.
01.23.23
5 years of dexFreight - Disrupting the Logistics Industry! ⛟
Dear Shareholders,
This week marks our 5th anniversary since dexFreight's inception, and we wanted to share with you more about the journey that has taken us to where we are today.
How it all started
Five years ago, our founders sat down to discuss some of the main problems in logistics and brainstormed how these could be solved using blockchain technology. In 2018, after realizing the power of blockchain technology in the logistics space, dexFreight was founded, and the team began working on its whitepaper and MVP.
Our 1st Truckload Booking
Once the idea and first user interface were developed, dexFreight partnered with seafood wholesaler Netuno USA and asset-based motor carrier Arel Trucking to complete its first shipment from booking to payment. This first transaction received media attention from renowned publications, including the Wall Street Journal and Transport Topics.
Getting Truckers Paid Faster through Decentralized Finance
Truckers often get paid after 37 days of delivering the load. With over 96% of trucking companies being small businesses, they often seek short-term financing against invoices to cover fuel, maintenance, and driver expenses. As a way to solve this liquidity problem, dexFreight partnered on a pilot with Centrifuge and the Maker Foundation to use decentralized finance (DeFi) to tokenize freight invoices and use them as collateral to provide invoice financing at a much lower rate than the industry average. dexFreight filed for a patent (Application No. 20230004925) in 2021 with the USPTO for electronic management of the supply chain factoring with shared state storage in a distributed ledger.
Adding Over-the-Road Container Shipping
In its early versions, dexFreight supported truckload services only. However, some of the company’s early investors manage high volumes of drayage shipments, leading our team to develop and release the needed functionalities to handle this type of freight as well. Research shows that the drayage market is expected to grow by $2.90 billion from 2020 to 2025, making it an ideal opportunity to expand the dexFreight network.
Internationalization of dexFreight
The logistics fragmentation issue goes beyond the US market. This industry presents similar problems globally; an early opportunity identified by our business development team, which created strategic alliances in Mexico and Colombia to introduce digitization, new efficiencies, and, most importantly, the unique benefits of the cooperative style behind dexFreight's technology.
Our team believes high fragmentation, low level of digitization, and lack of liquidity are the root causes of many of the problems in the logistics industry. The manual processes, delayed payments, low visibility, elongated transit times, and the empty miles with their respective environmental impact could be addressed through a shared open logistics network running on decentralized protocols and a Web 3.0 infrastructure.
dexFreight will continue its journey to allow freight companies to exchange real-time load and capacity availability, and transact directly with each other from booking to payment using smart contracts on the backend. A future logistics industry run on Web3 technology will allow users to preserve data ownership and keep a fair share of the value they create by participating in the network.
01.12.23
2022 Annual Investor Report
Dear Investors,
Thank you for your unwavering support throughout 2022. Your trust and commitment towards this company were integral to dexFreight's growth this past year.
2022 marked a noteworthy year for the company as we launched our internationalization strategy, expanding into the Mexican market, and positioning dexFreight closer to the mission of becoming the coordinating force for global logistics.
Traction Highlights
4,348 freight companies registered.
dexFreight's carrier network grew by 34% in 2022.
2X more truckload bookings vs 2021.
3X more drayage bookings vs 2021.
Over 4.8K containers have been booked through the network.
$12.8M in total freight spend.
More than 400 invoices were financed through our patent-pending premium service, 'dexFi.'
Business Development
dexFreight closed the first quarter of 2022 with an oversubscribed funding round, raising $1.07M from more than 900 global investors. This investment opportunity marked the first steps toward a truly decentralized network owned by the community and its users.
Customization of Marketplace for Mexico
Furthermore, as part of our international expansion strategy, dexFreight initiated a pilot program with Hutchison Ports Mexico (HPM), joining the organization's digital transformation initiative to manage port operations more efficiently. This strategy served as a driver for early adoption and monetization of dexFreight in the Mexican market. HPM customers are booking close to 500 containers every month through dexFreight. We will engage with the other port terminals in 2023 to continue our regional operational expansion.
During the second quarter of 2022, our team officially announced the release of the Spanish version of dexFreight to support the growing proximity to the Latin American market. Due to the program's success with HPM, we were approached by Asoportuaria, a port association in Colombia, to replicate the pilot at their port terminals. Our team is developing all required legal and technical features to adapt the network to the new market.
Development Services for LoadBoard Network
This year, we also partnered with LoadBoard Network, a load board aggregator in the U.S. Through this agreement, dexFreight is providing the backend infrastructure for the partner company, and has completed integrations with over 20 different load boards and TMS, reaching more than 34,000 loads per day.
Building the Open Logistics Protocol
Since the early days, our founding team envisioned a collaborative industry, and in 2022, dexFreight began collaborating closely with a number of top freight tech firms in the U.S. to develop and market the first decentralized open logistics protocol. This initiative will incentivize collaboration among industry players, resulting in fewer empty trucks, more efficient processes, and enhanced visibility.
What to expect in 2023?
This new year, our team emphasizes generating revenue and supporting the company's growth to benefit our customers, partners, and investors.
01.04.23
🎊 Happy New Year from dexFreight! Awaiting the start of this new chapter
Dear Supporters,
As we start the 2023 chapter, we would like to express our gratitude to all of our staff members, investors, advisors, and community members for their unwavering support throughout 2022.
What's coming for dexFreight in 2023?
Over the last few years, our company has overcome multiple challenges. Thanks to our investors' confidence and our staff's dedication, dexFreight is ready to welcome this new year with a singular emphasis on revenue generation and company growth.
To support our 2023 aspirations, dexFreight leadership is already working on new collaborations and strategic initiatives in The United States, Mexico, and Colombia. In this update, we will focus only on the Mexican market.
A Power Opportunity to Reach 11K New Customers
We started a pilot operation in Q3 2021 with Hutchison Ports Mexico to use the blockchain infrastructure of dexFreight to organize truck transportation of container cargo at their port terminals. This served as the catalyst for the initial stages of the Latin American market's operational expansion.
Following the pilot's success, we began operations with freight companies at Hutchison Ports TILH, located in the region of the Valley of Mexico, mainly oriented on intermodal exports. By the end of 2022, clients were using the dexFreight marketplace to book close to 500 containers each month.
In the first quarter of 2023, we intend to initiate operations at Hutchison Ports LCT, the container terminal of Lazaro Cardenas. This terminal specializes in loading and discharging of land and sea containers. LCT is considered the most agile terminal across the Mexican port system and the second most important in the Americas. The terminal comprises 85 carriers, 130 customs agents, 100 freight forwarders, and 2,000 shippers, providing a unique opportunity to expand dexFreight's network.
With around 11,000 freight companies working at the numerous Hutchison Ports terminals in Mexico, our commercial team is already organizing a series of workshops to encourage the use of our technology and boost visibility among HPMs customers.
Once again, thanks for supporting dexFreight!
12.14.22
dexFreight Named 2022 Top Tech Startup by Food Logistics, Supply & Demand Chain Executive
Dear Supporters,
Food Logistics and Supply & Demand Chain Executive, recognized dexFreight as one of this year’s Top Tech Startups, which spotlights top software and technology startups in the supply chain and logistics space.
“While it has been an extraordinarily difficult time for many in the supply chain and logistics space over the last few years, it has also brought incredible opportunities to innovate,” said Jim Handoush, President and CEO of dexFreight. “We’re excited and honored to be recognized as one of this year’s TOP TECH STARTUPS and to highlight our team’s tremendous and tireless efforts to deliver industry-changing and impactful technologies.”
12.02.22
dexFreight Progress Report December 2022
Dear StartEngine Community,
It has been a while since we last posted an update here. However, a lot has happened since our crowdfunding round maxed out on StartEngine!
The dexFreight Network
- As of today, over 4.3K companies have registered on dexFreight.
- More than $12.8M in freight spend
- Surpassed $700K in freight invoices financed
Taking the First Steps Towards a Fully Integrated Logistics Industry
In previous updates, we announced dexFreight's partnership with LoadBoard Network (LBN), a load posting aggregation software. With dexFreight as the backend infrastructure, LBN was able to complete integrations with over 20 different load boards and TMS providers, aggregating more than 34,000 loads every single day. In future development stages, LBN customers will have access to dexFreight's cutting-edge automated payment features and financing services.
Unlocking Opportunities in LATAM
One of the main goals throughout our funding round was to launch an internationalization strategy by entering the Mexican market. With the support of Hutchison Ports Mexico, dexFreight completed a Pilot program resulting in more than 1,400 containers booked through the network and 40 new freight companies onboarded. Given the program's success, we are now getting ready to scale up our commercial efforts to expand operations into all 6 port terminals.
Our expansion plans moved past the Mexican border. In Q2 2022, we announced to our investors a signed agreement with Asoportuaria, the leading port association in the Caribbean region of Colombia. In the upcoming year, dexFreight will initiate efforts to develop and implement a freight management system to optimize shipments coming in and out of the 12 associated terminals. The project seeks to incentivize collaboration, facilitate onboarding, and reduce empty miles.
The First Decentralized Open Logistics Protocol
dexFreight is part of a group of leading freight-tech companies working closely to bring to market the first decentralized "Open Logistics Protocol." This public utility backend is designed to standardize and bridge the gap between closed networks, where load boards, freight matching apps, ELDs, and TMS platforms can connect, allowing end-users to exchange live market information safely. Instead of integrating with hundreds of apps, ELDs, and TMS, companies "connect once" to the protocol, potentially increasing the ROI.
Hector Hernandez, Co-founder of dexFreight, explains more in the following video:
Roadmap
All the team's hard work and investors' support have led dexFreight into a phase of expansion. As new doors open in the US and Latin American markets, the board members have decided to launch a new RegCF round to support the need for product development and workforce for the growing operations. Additional information is available on our website https://www.dexfreight.io/
We look forward to another successful funding round! Thanks for being a part of dexFreight’s journey.
Best,
The dexFreight Team
REWARDS
Venture Club
Venture Club Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
$390
Tier 1: $390+
Receive 5% bonus shares and a 10% discount on dexFreight platform products for 6 months.
$1,000
Tier 2: $1,000+
Receive 8% bonus shares and a 15% discount on dexFreight platform products for 8 months.
$5,000
Tier 3: $5,000+
Receive 12% bonus shares and a 20% discount on dexFreight platform products for 10 months.
$25,000
Tier 4: $25,000+
Receive 15% bonus shares and a 25% discount on dexFreight platform products for 12 months.
JOIN THE DISCUSSION
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Ophelia Szell
2 years ago
Hello, any update on this investment?
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Ophelia Szell
2 years ago
any update on this investment?
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Ophelia Szell
2 years ago
Any updates regarding our investments? How are we doing?
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Varun Gupta
3 years ago
Can you please provide quarterly update? Thanks.
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David Sullivan
3 years ago
Do you have any way to protect against counterfeit materiel or theft throughout the supply chain? And, how do you assure the physical materiel matches your smart contract at each step (in and out of warehouses, on- and off-boarding throughout the TMS, etc.
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Srujan Rao Chikyala
3 years ago
Hello - I have not received the bonus shares offered from dexFreight as part of amount based and listed below. Can you please check on it? Amount Based: All investors Regardless of the investment amount, will be provided access to our community Slack channel, Telegram channel, and receive a dexFreight branded tumbler. Tier 1 (< $1000) Receive 5% bonus shares and a 10% discount on dexFreight platform products for 6 months. Tier 2 ($1000 - $4999) Receive 8% bonus shares and a 15% discount on dexFreight platform products for 8 months. Tier 3 ($5,000 - $25,000) Receive 12% bonus shares and a 20% discount on dexFreight platform products for 10 months. Tier 4 (> $25,000) Receive 15% bonus shares and a 25% discount on dexFreight platform products for 12 months. Please note that Startengine owner bonus shares are received.
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Patrick Hall
3 years ago
I believe in your company enough that I invested a second $1000.00 yesterday. "In the history of warfare most defeats can be traced directly back to a broken supply line." (Author Unknown) By merging logistics and blockchain technology-I'm having trouble seeing how you can fail. Best of luck and keep up the great work!!
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Benjamin Landman
3 years ago
Few questions: 1. Why did revenues go down from $131K in 2019 to $82K in 2020? 2. What were the revenues in 2021? I read a reply to the comment saying that your top line revenue was $452K. Is that all dexFI? Is there any revenue for dexFreight? 3. What are the expected revenues in 2022, 2023 and 2024? I understand giving financial projections is risky and not recommended by StartEngine, but it's really the most important clue for us investors. A "guesstimate" would be fine. 4. How exactly does dexFreight make money? What are all the sources of revenue for the company? How much does dexFreight charge carriers and brokers?
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Francesc Tomas
3 years ago
How if you are willing to work with decentralized protocols, you are not accepting investors from outside the US? Is'nt that kind of incongruent?
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kartikeya ghia
4 years ago
Am I right in saying you see the prime benefits as providing a virtual marketplace for brokers to simplify their operations, improve trucking company cashflows and increase transparency? Is it possible for individual trucking companies and/or manufacturers to directly participate on the network? In other words, does the setup allow for individuals and brokers to participate or only brokers? Thanks
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