Interesting Logistics, Cleantech and Transportation Startups from Y Combinator S22 Batch
Y Combinator is one of the world’s prestigious accelerators in the world. Every year, Y Combinator invests $500,000 per company in large numbers of startups. There are two cohorts of startups – Winter and Spring. The accelerator has invested in over 3,000 companies since 2005 that are worth over $400 billion combined. Some of the big names are Airbnb, Coinbase and DoorDash etc.
Y Combinator $500,000 investment is made on 2 separate safes (simple agreement for future equity):
- $125,000 on a post-money safe in return for 7% of equity
- $375,000 on an uncapped safe with a Most Favored Nation (“MFN”) provision
The numbers of startups in each cohort vary. In S22, there are 159 startups that will be pitching on 07 and 08 September 2022 on Y Combinator demo days. It is important to highlight that S22 Class size is reduced by 40% owing to a downturn in the economy and in venture capital funding.
In S22, there are a wide variety of startups from different sectors and geographies. In this article, we have listed some of the interesting startups from logistics, electric vehicles, and transportation verticals.
Fetii is based in Austin, USA, and is a group rideshare platform that utilizes a network of 15-passenger vans to transport groups and businesses on-demand. The platform uses technology to calculate the cost of the route based on parameters like the distance, demand, and time of the day offering a competitive pricing advantage for on-demand booking for events. The company has already transported over 510,000 passengers, removed over 130,000 unnecessary vehicles, and is operating in 3 cities. The company is working with different corporate clients and universities.
Airhart Aeronautics is based in California, USA, and is building simple-to-fly airplanes. Using modern engineering techniques and technology, anyone can hop in and fly and be proficient in flying it in 1 hour, not 100. The founders worked at SpaceX on Falcon and at Apple on the M1. The aircraft is built with intuitive fly-by-wire controls to expertly fly your plane where you direct it to go.
Garage Mobility is based in Accra, Ghana, and is a wholesale auto parts distributor in Africa where there are more than 2 million retailers selling $25 billion of auto parts annually. The company aggregates parts from the largest suppliers in the world and delivers them directly to retailers for a commission. The company projected that Africa will be the second largest vehicle market in the world with 400 million vehicles by 2050 and the owner will be spending over $500 annually on vehicle parts.
Pivo Technology Inc is based in Lagos, Nigeria, and is a fintech platform offering financial services to supply chain players. The business can set up a multi-currency corporate account, access credit for business loans, and manage its finances. Currently, Pivo Freight Carriers offers financial services easily accessible for truck owners and truck drivers by providing a platform that brings together a bank account, credit, and payment solutions for these businesses.
Kamion is based in Istanbul, Turkey, and is building a booking platform that allows shippers with truckers in the B2B space. Turkey is MENA’s largest economy with a logistics TaM of $73 billion. However, the trucking market is fragmented as there are more than 850,000 independent truckers, with SME fleets having ~95% market share. Kamion is looking to automate the whole freight forwarding process, allowing people to book and pay for their load easily.
Abridge is based in Mountain View, US, and is end-to-end automation software for freight logistics companies. The company is a SaaS platform helping freight logistics companies to accept bookings, automate compliance documents, and communicate with supply chain partners all in one place. The company helps freight logistics companies to automate and integrate shipping lines.
Krave Mart is based in Pakistan and is a quick commerce startup that delivers everyday essentials to the doorstep. The company is currently operating 3 cities – Karachi, Rawalpindi, and Lahore. Krave Mart is currently serving 200,000 households and offering 2500+ unique SKUs across multiple categories ranging from Grocery, Mother & Baby, Healthy & Beauty, Electronics, Personal Care, Household items, eVoucher, and more.
Shipmates is based in Makati, Philippines, and is an e-commerce shipping solution to improve the shipping process of e-commerce businesses. The company allows e-commerce stores to connect to their Shopify website or upload their orders using an excel file. The store owners can compare the price from six couriers: Lalamove, Borzo, Grab, XDE, Entrego, and J&T, and allows for nationwide shipping, Cash on Delivery, and free courier pick-ups for the convenience of business owners.
BiggerPicture is based in San Francisco, USA, and is a cloud-based scheduling platform that connects shippers, carriers, and facilities. The company has two solutions – Dock Management and Carrier Scheduling system. The system helps different players to schedule with any facility and standardize workflow across all appointment requests.
Tank is based in California, USA, and is building payment infrastructure for the trucking business. The company offers digital wallets and cards for freight carriers, allowing carriers to pay truckers faster and seamlessly without any additional charges. Tank Payments aims to become the finance department for trucking SMBs, supporting the many unique financial requirements of freight businesses.