Periodic Reporting for period 1 - SWIFTLY (Sharing-economy matching platform to revolutionize last-mile logistics)
Reporting period: 2019-08-01 to 2019-11-30
The boom of e-commerce and consumer expectations have resulted in a blooming of start-ups developing products to address the main needs of the parcel delivery market, namely fast and flexible delivery and efficient logistic operations. However, parcel delivery is still managed manually, which entails low scheduling flexibility, idle time for trucks and inability to maximise vehicle space. These situation results in high costs for senders, increased traffic and CO2 emissions.
The use of appified models and AI algorithms to do real-time tracking and analysis of road and carrier data has a great potential to overcome these limitations, lowering transport costs and reducing idle time and vehicle capacity but, so far, existing solutions do not apply AI in their transport management system sand only use real-time tracking for parcel follow up purposes. Nimber develops digital solutions that apply appified models and smart logistics to optimise the efficiency of parcel transport operations.
This action’s goal was to determine the technological, commercial and financial feasibility of the project. To do that, we reviewed our technical development roadmap, which included the new app architecture and the optimisation of the pricing and bundling engine, assessed our commercialisation and IP strategy based on a market study and a financial growth projection considering our current resources and needs.
The use of appified models and AI algorithms to do real-time tracking and analysis of road and carrier data has a great potential to overcome these limitations, lowering transport costs and reducing idle time and vehicle capacity but, so far, existing solutions do not apply AI in their transport management system sand only use real-time tracking for parcel follow up purposes. Nimber develops digital solutions that apply appified models and smart logistics to optimise the efficiency of parcel transport operations.
This action’s goal was to determine the technological, commercial and financial feasibility of the project. To do that, we reviewed our technical development roadmap, which included the new app architecture and the optimisation of the pricing and bundling engine, assessed our commercialisation and IP strategy based on a market study and a financial growth projection considering our current resources and needs.
During the Phase 1 of the project we have released our current app for Android and iOS and we are closing our web platform. Based on the market study and our own research, we have mapped out the technical development plan for the next two years and engaged several professional carriers to collaborate in the pilot stage of the project.
Commercially, we have also signed collaboration partnerships with important retail and carrier customers in the Nordic countries and extended our network of peer drivers over the 65,000. After analysing our market results in Norway and the UK, we have reassessed our target market and our commercialisation strategy and adapted them to a better use of our resources and current network.
Commercially, we have also signed collaboration partnerships with important retail and carrier customers in the Nordic countries and extended our network of peer drivers over the 65,000. After analysing our market results in Norway and the UK, we have reassessed our target market and our commercialisation strategy and adapted them to a better use of our resources and current network.
With additional investment of €2.1 million in 2020, we will be able to launch Nimber for Business by 2022 in the Nordic countries and reach almost 8m deliveries by 2026. By then, we expect a total revenue of €39.8million which will represent an important growth for our company (x50 the current 800k revenue) and will generate 12 new positions internally.