DB Schenker buys equity interest in US online shipping platform uShip
Logistics firm DB Schenker has invested around $25m to acquire equity interest in US-based online shipping, transport and freight marketplace, uShip.
DB Schenker has collaborated with the online platform for freight forwarding and transport services.
The uShip platform is said to connect shippers and carriers in around 19 countries. It organizes freight transport by using mobile devices.
DB Schenker will use the platform for land transport through an online platform known as Drive4Schenker.
Drive4Schenker will use uShip technology to connect around 30,000 transport partners in the European land transport network to their freight.
The firm has already launched the new service in Germany this month, and plans to gradually expand to other countries.
The uShip intends to use the investment to speed up development of its logistics software platform for crucial business segments, including high-volume enterprise shippers and small and midsize businesses (SMB) shipping less-than-truckload (LTL) freight.
Schenker AG CEO Jochen Thewes said: "Expanding our successful partnership will expedite and streamline transport management and help us, as a market leader in European land transport, to handle even larger volumes of freight.
“We also intend to quickly develop and tap new opportunities to grow outside of our traditional business models.”
uShip CEO Mike Williams said: “Major players like DB Schenker are wisely embracing innovation to automate and digitize their operations, making them more efficient and profitable.”
Image: DB Schenker has invested in US online shipping platform uShip. Photo: courtesy of uShip Inc.