Inefficiencies in the trucking sector has resulted in Bangladesh having one of the highest trucking rates amongst countries in the region. Low truck utilization increases average trucking costs and adds to the total miles driven leading to increased congestion and higher emissions. The large share of empty truck trips, estimated at around 35 per cent, also contributes to low truck utilization.
Loop freight provides a marketplace platform for both shippers and vendors for efficient freight management. This leads to higher utilization of trucks and results in increased cost saving for shippers and higher income for vendors. Loop provides freight tracking and traceability for better planning and re‑routing.
ADB Ventures SEED grant will support the implementation of a system for tracking return truck loads, the ramping up of full‑trailer‑load trips to 2500 per month, and the creation of at least 10 local jobs.
Loop Technologies, also known as “Loop Freight”, is a Bangladesh‑based technology‑enabled marketplace for truckload freight services. Loop connects businesses to available vendors via its digital platform. Using the company’s app shippers can easily book, track, and pay for their shipments with just a few clicks while vendors enjoy the opportunity to bid on trips and set their own price rates, while also providing a efficient payment process upon delivery.