Supply chain tech wonder-company Zeus is forecast to earn £30m by end of 2024 in what it dubbed a “momentous year”, The Grocer can reveal.
The company, which started as a small logistics startup four years ago, has taken the sector by storm due to its AI-powered freight management software.
Its platform – which connects hauliers in real time to local businesses in need of transportation in a bid to slash empty lorry space and make the traditionally paperwork-based logistics sector more efficient – has earned it big customers across fmcg and retail like P&G, Kellogg’s, Whirlpool and Wickes.
Zeus has earned £25m to date since launching in 2020, and is forecast to have earned £30m by the end of 2024 following a major deal with logistics giant Wincanton.
Wincanton, a key supply chain partner for UK grocers, signed a deal with Zeus earlier this year to exclusively hold the licence of its freight management technology in the UK and Ireland.
“Four years on since Zeus’ inception, we are celebrating what can only be described as our most momentous year yet – a milestone that has taken us from an angel-funded startup into a leading scale-up in freight management,” said co-founder and joint MD Jai Kanwar.
The tech company is also anticipating a 100% and 170% annual market growth across its two core products, Zeus Connect and Zeus Command respectively, marking a second consecutive year of growth.
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Zeus Command AI, which is currently being piloted, allows companies to streamline their entire supply chain by hyper-automating tasks within supply and demand, and addressing operational management and execution challenges in real time.
Meanwhile, Zeus Connect is a sustainable freight transport solution that helps companies reduce their carbon emissions by monitoring and slashing empty miles and providing alternatives such as green HGVs and electric-powered rail freight.
“With an impressive growth forecast across our two core offerings and a successful pilot of Zeus Command AI underway for a number of clients, we are perfectly positioned to expand our innovative, sustainable solutions into new international markets across Europe and fast-growth regions such as India and beyond,” Kanwar added.
University friends Kanwar and his co-founder Clemente Theotokis launched Zeus four years ago after seeing the potential in automating the freight management sector.
It now moves approximately 250,000 tonnes of cargo worth around £800m each year in 13 countries across Europe.
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