REPOWR raises $8 million

REPOWR, a Birmingham-based startup powering a logistics marketplace for asset sharing, has closed an $8 million Series A round led by UP.Partners, with participation from ArcBest, Crowley Maritime, Koch Disruptive Technologies, McVestCo VC, NFI Ventures, Perot Jain, and 9Yards Capital.

Launched in 2021, REPOWR allows logistics companies to share non-powered capacity, namely trailers and chassis. In terms of insurance, the renter must provide their own insurance ($1 million liability policy and physical damage insurance) or purchase it from REPOWR. The startup’s broker partner is Reliance Partners and the carrier partner is Centerline Insurance Company.

“Trucking is an $870B market with over 13 million vehicles operating on North American roads. However, trailers are habitually underutilized and sit idle a significant percentage of the time. REPOWR’s novel marketplace solution helps industry titans optimize their assets by expanding their margins with both revenue-enhancing and cost savings capabilities. We are bullish on Patrick, Spencer, and the rest of the REPOWR team’s ability to build a fantastic business while bringing order and efficiency to the market,” says Ally Warson, partner at UP.Partners.