Ontruck, Europe’s leading digital road freight platform, has secured an investment round of €17 million euros led by the Oil & Gas Climate Initiative(OGCI), a consortium of the 12 largest oil and gas companies in the world that is dedicated to investing in clean energy solutions. Current Ontruck investors, including Cathay Innovation, Atomico, IDInvest Partnersand TOTAL Energy Ventures, have participated in the round, with Endeavor Catalystjoining as a new investor.
The €1 billion+ OGCI Climate Investments fund represents an unprecedented bid by the oil and gas industry to invest in technologies capable of lowering greenhouse gases and tackling climate change. OGCI’s investment will accelerate the development of Ontruck’s transport network and technology not only through the injection of capital but also through access to the collective expertise and resources of OGCI members, each of whom is firmly aligned with Ontruck’s commitment to creating a low-carbon future. These industry members include Repsol, Shell, Total, BP, Petrobras, Chevron and Exxon among others.
“We are honoured to welcome on board OGCI as a new investor”, says Iñigo Juantegui, CEO and co-founder of Ontruck. “OGCI shares our vision to drive a step-change in efficiency across the €600 billion trucking industry in Europe, and reduce the millions of tons of carbon emissions generated by trucks driving empty each year. Our partnership with OGCI and the world’s largest energy companies will accelerate our ability to build a new future for logistics in Europe, one that is efficient, transparent and sustainable”.
Since 2016, Ontruck’s first-to-market innovations have transformed the logistics industry to create the most efficient and socially responsible platform for road transport.
The startup’s zero-touch load matching of shipments to carriers has fully automated 90% of loadsin main regions while providing greater flexibility for shippers by assuring 100% capacity even in urgent situations. This is done using data algorithms to predict peak demand, routing shipments to maximize carrier utilisation, and dynamic pricing to balance the marketplace.
To date, Ontruck has cut kilometres driven empty from the industry average of 44% to 19%, a milestone that has prevented 728.000 kgs of C02 emissions from entering the atmosphere. This achievement, combined with the support of OGCI, consolidates the platform’s position as a market leader in providing sustainable transport solutions.
In four years, the company has reinforced its European footprint with operations in Spain, the UK, France, and the Netherlands with further plans for expansion. The startup is powered by an executive team that combines a diversity of expertise from the start-up world, including founders who have guided companies to successful exits together with seasoned executives from logistic powerhouses such as Uber, CH Robinson and XPO Logistics.
Ontruck has built trusted partnerships with the largest companies in Europe, such as Auchan, Pepsico, P&G, Codorniu, GBFoods, CHEP and Decathlon