Summary
On this episode of Startup Junkies, hosts Jeff Amerine, Caleb Talley, and Victoria Dickerson are joined by FR8relay co-founder and CEO Aayush Thakur. FR8relay is an Arkansas-based technology company working to create a more efficient, profitable, and sustainable trucking logistics ecosystem. With 70% of US freight being moved by trucks, core inefficiencies in traditional long-haul trucking operations threaten the industry’s future. Luckily, Aayush and FR8relay have a solution that can save companies money, decrease driver turnover, and create a more sustainable trucking future.
Show Notes
(0:54) Introducing Aayush Thakur and FR8relay
(1:24) Aayush’s Origin Story
(9:10) Issues with Autonomous and Semi-Autonomous Vehicles
(13:40) FR8relay’s Solution
(16:12) Electric Semi-Trucks
(18:23) Leaving Memphis for Northwest Arkansas
(23:05) FR8relay’s Ideal Customer
(25:40) Cutting Down on Driver Churn
(28:46) Advice to the Younger Self and Closing Thoughts
Links
Quotes
“Yes, our model will work and enable everything to happen today, not [in] twenty years. You don’t have to burn any money. We are efficient. We can work with the same human people today.” – Aayush Thakur, (14:19)
“Before coming [to Northwest Arkansas], we had raised $200,000…and then after coming [to Northwest Arkansas] and being connected to people, we were able to raise $1.3 million. That’s just the dollar figures. And you take that and then you see the number of connections we have made.” – Aayush Thakur, (20:38)
“We actually take a simple process and make it more complex. But by making it more complex, we see a lot of savings in that…We start with one shipment. We collect 10 of those, for example, and then we would run them through a blender, and then you will get smaller chunks of trips out of it, where it creates these little loops for each of the drivers to come back home, while each of the trailers is getting to the final destination.” – Aayush Thakur, (25:07)
“If you are trying to do forced PR where you say, we’ll do this for the driver, we’ll give them bonuses…those things are really great, and you should do that, but the main thing people are struggling with [on the road] is family. It’s that sense of belonging, a sense of fulfillment that is missing.” – Aayush Thakur, (26:44)
Efficient Trucking Logistics Ecosystem in Arkansas with FR8relay
On this episode of Startup Junkies, hosts Jeff Amerine, Caleb Talley, and Victoria Dickerson are joined by FR8relay co-founder and CEO Aayush Thakur. FR8relay is an Arkansas-based technology company working to create a more efficient, profitable, and sustainable trucking logistics ecosystem. With 70% of US freight being moved by trucks, core inefficiencies in traditional long-haul trucking operations threaten the industry’s future. Luckily, Aayush and FR8relay have a solution that can save companies money, decrease driver turnover, and create a more sustainable trucking future.
Inefficiencies in Long-Haul Trucking
While completing his master’s degree in Florida, Aayush began noticing inefficiencies and bottlenecks in the truck data he was researching. Drivers were spending long periods of time on the road. After hitting their limit of driving hours, they were forced to sleep on the road, causing long trips and offering little time at home with their families. These factors, along with several others, result in an astronomical 150% annual driver turnover rate, which leads freight businesses to spend large sums of money on finding and onboarding new drivers.
“If you are trying to do forced PR where you say, we’ll do this for the driver, we’ll give them bonuses…those things are really great, and you should do that, but the main thing people are struggling with [on the road] is family. It’s that sense of belonging, a sense of fulfillment that is missing.” – Aayush Thakur, (26:44)
FR8relay’s Solution
Throughout his master’s program and several years spent consulting with the Department of Transportation in Florida, Michigan, and California, Aayush created an algorithm that has the potential to solve many of the trucking industry’s problems. By shortening the amount of distance drivers travel with each load, FR8relay offers drivers the chance to spend less time on the road, and more time at home with their families.
The traditional method of moving freight requires drivers to pick up a load of freight and drive it to its final destination, but FR8relay breaks up these trips into shorter segments. Essentially, a load can be moved from one driver to another until it reaches its final destination, allowing drivers to stay within their region and return home at night rather than sleeping on the road.
“We actually take a simple process and make it more complex. But by making it more complex, we see a lot of savings in that…We start with one shipment. We collect 10 of those, for example, and then we would run them through a blender, and then you will get smaller chunks of trips out of it, where it creates these little loops for each of the drivers to come back home, while each of the trailers is getting to the final destination.” – Aayush Thakur, (25:07)
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