Oway, founded in 2023 and backed by Y Combinator and General Catalyst, has closed a US$4 million seed round.

Founded in 2023, the company uses machine learning and electronic logging device data to match empty trailer space on long-haul trucks with shipping demand in the US.

The platform aims to lower shipping costs by connecting shippers with available truck capacity on underutilized routes.

Oway claims it can automate shipping and insurance paperwork and cut the cost of moving a sub-2,000-pound pallet between Los Angeles and Dallas from about US$350 to as low as US$140.