eTEU is solving the issue of inefficient, paper-based documentation procedures in international trade which cost businesses globally more than $200 Billion every year.
Current Status
Paid pilot with Ocean Network Express (ONE), one of top-5 biggest shipping companies globally.
Paid pilots with number of shipping/logistics companies across Europe (£30,000 in revenue generated).
Accepted to ZEBOX (CMA CGM incubation program).
Received grant funding from Innovate UK, equity funding from Techstars (top-3 most prestigious startup accelerators globally) and Jenson Funding Partners.
Problem or Opportunity
Even in the 21st Century, international trade, heavily relies on paper documentation. Documents are still prepared manually, issued in the paper format and transferred using courier post. This is a huge issue which according to the World Bank, costs businesses globally more than $200 billion every year.
Solution (product or service)
eTEU is solving this issue by enabling paperless management of international shipment, using blockchain technology to ensure trust between the members of the supply chain and automating repetitive bureaucracies, such as document drafting.
Business model
Subscription based SaaS, with price of packages based on the number of documents generated on the platform.
