YC-backed Oway raises $4M to build a decentralized ‘Uber for freight’

Oway, a YC-backed startup, has raised $4 million to develop a decentralized "Uber for freight" platform. The company aims to address the inefficiency in the freight transportation industry, where trucks often operate at only half capacity. Oway's software platform connects shippers with available truck capacity, allowing for better utilization of resources and reduced costs. By leveraging a decentralized network, the startup aims to create a more transparent and efficient freight marketplace. The funding round was led by Partech Partners, with participation from Y Combinator and other investors. Oway plans to use the capital to further develop its technology and expand its operations, ultimately contributing to a more sustainable and cost-effective freight transportation system. The news highlights the growing demand for innovative solutions in the logistics industry, as businesses seek to optimize their supply chains and reduce their environmental impact.