HWY Haul Raises $10M Hoping to Bring Efficiency to the Fresh Produce Supply Chain
The fresh produce and food industry has always faced complications within the delivery process. With the current conditions of the supply chain, even more bottlenecks have risen causing the produce industry to take on more of a struggle.
The digital freight platform that has been connecting fresh produce shippers with truckers, Hwy Haul, has announced that they are investing $10 million into produce and food delivery to bring reliability and efficiency to the fresh produce supply chain. Their main goal: elimination of food waste during the transportation process.
Hwy Haul’s founder and CEO stated, “Produce spends 50% of its life on a truck, and one out of every 10 truck loads ends up being rejected, usually due to unreliable capacity not making its refrigerated needs. We believe that our system can help fix that problem while reducing empty miles and reducing each load’s carbon footprint.”
Research shows that 4.3% of produce spoils during transit and 3.4% is discarded as surplus. This results to $163.1 billion loss each year. Because of this and other quality and supply chain issues, 40% of all food grown and produced in the U.S. is not consumed.
“The food and fresh produce supply chain is a vital network affecting multiple industries, and it faces immense challenges today," said Kishore Bopardikar, Founder and Managing Partner at Eileses Capital. "We are excited to lead this investment round for Hwy Haul as they digitize the overall supply chain experience, making it more accessible and affordable for all parties."
The produce industry is in dire need of a sustainable systematic change in which visibility is clear within the transportation and delivery process. With this amount of emphasis and funding, the fresh produce industry can hope to see more visibility in the supply chain soon, creating a more resilient and effective chain.