REPOWR, a Birmingham, AL-based collaborative logistics marketplace and digital-leasing platform aiming to bring visibility and value to underutilized transportation equipment, raised $4.2M in Seed funding.
The round was led by Koch Disruptive Technologies (KDT), with participation from Perot Jain Alliance, Plug and Play Venture Group, and a number of strategic angel investors.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Patrick Visintainer and COO Spencer Ware, REPOWR provides transportation companies with a logistics marketplace and digital-leasing platform to transform the way they utilize over-the-road equipment via a connected, collaborative asset-sharing platform. The company’s technology equips logistics companies to share and manage assets across locations, teams, and networks.
REPOWR is currently working with large truckload fleets in America. Among its upcoming products, the Universal Trailer Network (UTN) will allow its users to set rules and permissions to share smart-trailer capacity with minimal human interaction.