The Vietnamese startup has developed an AI-powered solution to help businesses better manage their logistics processes.
Vietnam is one of Southeast Asia's fastest-growing economies. Over the past few decades, the country has achieved high economic growth. In 2021, the country’s GDP hit USD 363 billion, a jump from USD 21 billion in 1994.
A key sector that is thriving is the logistics industry, which is expected to record a compound annual growth rate (CAGR) of 7% between 2021 and 2026. This is largely due to Vietnam’s strategic location, free trade agreements, as well as the rapid growth of e-commerce in the region.
Despite this, Vietnam’s logistics industry faces major challenges such as operational inefficiencies in the trucking segment, which handles 77% of the total freight volume transported in the country.
For example, route planning for local trucking operations is typically made intuitively. As a result, the lack of knowledge of local routes or human error can lead to inefficient transportation routes, during which trucks chalk up empty miles. This leads to fuel wastage and increased carbon emissions. Often, logistics companies in Vietnam struggle to hire well-trained drivers with the relevant experience to operate freight vehicles safely and efficiently.
Vietnamese company MatarStars, also known locally as Song Nhật Tinh, has developed a smart freight management system to tackle these challenges while unlocking productivity gains in the logistics sector. The platform offers companies access to two solutions to optimize their freight operations.
The first is a transport management system that can plan freight transportation routes, reduce empty miles traveled, view freight costs, and analyze vehicle usage patterns. The other is an AI-driven fleet management system. The AI technology allows users to track deliveries in real time, and leverages data to identify areas for freight optimization. Users can also use the network to identify unsafe driving behavior.
MatarStars is led by Duc Vu Minh (CEO), Vu Tung (COO), and Nam Hoai (CTO). The team has vast experience and knowledge, with prior stints in companies such as FPT Software and VPBank. Backed by VSV Capital, MatarStars aims to improve the operational performance of companies in the logistics industry in Vietnam and across the region.
MatarStars (Song Nhật Tinh) was a finalist at the Project AsiaForward Alibaba Cloud Global Startup Accelerator Singapore Demo Day, held on May 25, 2022 in Ho Chi Minh City.
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