MANALAPAN, N.J., June 13, 2023 (GLOBE NEWSWIRE) -- Universal Transit, an AI-powered all-in-one auto transportation platform, ended 2022 with a turnover of more than $10M, a 400% increase from 2021. The company, which has been in the market since October 2020, works towards becoming the primary source to ship vehicles in North America while improving the daily life of car haulers, thanks to AI, automation and digital tools. Universal Transit plans to use its capital to scale investment in three major areas: increasing its AI investments, expanding its software and sales teams, and streamlining and optimizing its transportation networks.
AI-driven automation
As the industry faces increasing demand from online environment and pressure from various economic factors, the need for automation to increase customer satisfaction and improve productivity while reducing costs and saving time is greater than ever. AI-powered automation offers a compelling solution in significant cost savings and efficiency gains, as demonstrated by a recent independent study. In the study, Universal Transit’s system identified 60% of empty driving behavior, helping carriers to reduce empty truck mileage by up to 50% in its network. Leveraging machine learning and predictive analytics, the company aims to further increase efficiency by ensuring that 89% of trucks in its network carry full loads, as well as achieve up to 20% fuel savings over the next two years.
“As we continue to grow, with a tenfold increase in successfully transported vehicles over the past year, we understand the significance of offering drivers a comprehensive auto transportation solution that simplifies the vehicle shipping process and maximizes their earnings potential on every trip,” said George Milorava, Co-Founder and CEO, Universal Transit. “The goal of Universal Transit is to fundamentally change the way how vehicles are booked, priced and shipped.”
Grow its existing team
Universal Transit will continue to invest in its software, sales and support teams to provide superior service to its expanding customer base.
The company recognizes the importance of strengthening and growing its software and sales teams as it seeks to become the primary source to ship vehicles in North America over the next five years. As part of its strategy, Universal Transit plans to amplify its existing capabilities, expand its technology to meet industry needs, grow its network and broaden its digital integration with shippers, carriers and brokers nationwide, as well as dispatchers worldwide.
By investing in an enterprise team, the company aims to increase revenue, gain a competitive advantage, improve customer satisfaction, and gather valuable market research.
Reduction of CO2 emissions
One of the biggest culprits of CO2 emissions in auto transportation is empty mileage. “We aim to have a significant impact on the reduction of CO2 emissions with the streamlining and optimizing of transportation networks,” said Anzor Nishnianidze, Co-Founder and CTO, Universal Transit. The company’s approach to optimizing transportation networks is centered on its algorithm, which helps it optimize routes, keep trucks full, and minimize empty mileage travel. Furthermore, Universal Transit designed the Electric Car Reimbursement Program for employees as part of its commitment to sustainability. The company plans to offer customers an innovative application with a feature that will calculate, in real time, how many tons of carbon have been saved using Universal Transit’s service to transport their vehicles. “Besides the better visibility and positive impact for shippers, it also will give us the valuable information that we need to use to improve our sustainability efforts,” said George Milorava, Co-Founder and CEO, Universal Transit.
About Universal Transit
From planning to booking and delivery to paying, Universal Transit fully automates and digitizes the vehicle shipping process and makes it faster, smarter and, as a result, much more cost-efficient. Created by George Milorava, Anzor Nishnianidze and Beka Osepaishvili in 2020, Universal Transit utilizes advanced technologies to simplify the car hauling process, assist drivers in managing their business, and maximize their income potential. Visit universaltransit.com to learn more.
Beka Natmeladze
corporate@universaltransit.com
