Transmetrics
Scale Up
Scale Up
Organization Description
The Bulgarian scaleup Transmetrics develops innovative solutions to enhance logistics planning through the power of machine learning and predictive analytics. Combining human expertise with AI, they optimize operations and minimize the environmental impact of logistics. Their unique approach accurately analyses, models, and predicts transport flows, providing substantial benefits to top-tier logistics companies globally. Pioneering a new category, Transmetrics empowers leaders with data management, automation, forecasting, and optimization, driving real business impact. Positioned at the forefront of innovation, they are reshaping the logistics landscape with unparalleled efficiency and sustainability.
Founder
Asparuh Koev
Chief Executive Officer & Founder
Introduction
Transmetrics’ remarkable success story is not just about growth, but also about its profound impact on the ecosystem. Rooted in a sense of responsibility and consciousness, they’re driving change in three key areas. By aiding companies in controlling spending and providing financial insights into logistics operations, they’ve reshaped financial practices. Their focus on reducing CO2 emissions through optimized transportation networks signifies their commitment to environmental sustainability. Moreover, Transmetrics’ efforts to revitalize the logistics industry and foster an inclusive workspace highlight their broader societal impact, making them a force for positive change.
Background
Transmetrics emerged in 2013 from a profound observation made during a transport conference by its founders, then consultants for leading cargo firms. They recognized the widespread issue of inefficient capacity utilization in the industry and set out to address it. From its humble beginnings with four co-founders, Transmetrics has rapidly evolved into a team of over 45 experts across the EU, collaborating with renowned cargo and logistics companies. Overcoming market entry challenges, they launched successful solutions like the Linehaul Planning Solution (NetMetrics) in 2015 and the Container Management Solution (AssetMetrics) in 2018. Recently, in 2024, they have launched a brand new solution to bring enterprise-level technology to the Trucking market – FleetMetrics. Their commitment to reshaping the logistics industry and fostering sustainability has earned them recognition and significant investments.
Achievements
Since its inception in 2013, Transmetrics has achieved remarkable milestones, marking its ascent as a pioneering force in the logistics sector. With the launch of their Linehaul Planning Solution in 2015, they secured their first commercial success, setting a precedent for future innovations. The subsequent release of their Container Management Solution in 2018 further solidified their position, catering exclusively to container-heavy businesses. Noteworthy investments, including €1.67 million from the EU-backed Horizon 2020 Programme in 2019 and a €2.5 million round led by EIC Fund and Impetus Capital in 2023, as well as €1.7 NextGenerationEU grant received in 2023, underscore their growing prominence. Moreover, their accolades from prestigious platforms like VentureBeat, Forbes Business Awards 2014, and Cisco + Pioneers Innovation Challenge 2014 Top 50, among others, serve as testament to their industry-leading contributions.
Leadership
Highlight
Transmetrics Leadership consists of 5 key people:
- Asparuh Koev – Co-Founder and CEO, who is a serial entrepreneur and has extremely extensive expertise within the intersection of IT and Logistics.
- Alexander Petkov – Co-Founder and CTO, who is an IT expert with more than 20 years of experience of working with enterprises.
- Balázs Jerk – CPO, who has 20+ years of experience in building complex business solutions and strong experience in logistics.
- Milen Milev – Chief Customer Success Officer and a seasoned expert with a consulting and logistics background.
- Dimitar Pavlov – Chief Growth Officer, with 10+ years of experience in logistics and with a strong background in data analytics and technology implementations in the sector.
Investment
raised
Transmetrics has profoundly influenced both its local ecosystem and the broader market, catalyzing transformative shifts and economic boosts. By spearheading innovative solutions in logistics, they’ve not only streamlined operations for local businesses but also garnered international attention, attracting substantial investments and fostering economic growth. Their commitment to environmental sustainability and social responsibility has set a new standard in the industry, prompting investors to recognize the value of sustainable ventures.
Lessons
Learned
Building a technology company within conservative logistics industry from an eastern European country comes with its own set of challenges. Over the past 11 years, we have learned that it is never too late to adapt and pivot to another vertical in the logistics industry. After all, the technologies we develop are only becoming more relevant with the years. For instance, 10 years ago people in the industry would laugh if you told them that AI and Big Data could save millions for them. Today, many consider AI the long-needed breakthrough. So, the lesson that we learned here is that if you have a vision, you have to stay true to this vision. Another thing that is worth pointing out is that the larger the client the longer the sales process. However, as soon as they buy in, and we provide them exceptional customer-centric support, we can continue our relationship for 10-20 years. It is important to have a diverse client portfolio, in order to secure the future of business like ours.
Conclusion
and future Outlook
- By now, Transmetrics has raised €9M , across 6 rounds of angel, seed, bridge investments and grants. We are aiming to close A-round by the end of 2024.
- Among our investors are European Innovation Council and European Investment Bank as well as Launchub Ventures and Impetus Capital (Both funds are Bulgarian). We also have angel investors that we cannot publicly disclose.
- We have met our investors thanks to the networking and our connections in particular areas. As for the European Innovation Council, we have been applying for their grants since 2015 and became a beneficiary in 2019 and since then we consistently receive their valuable support.
Inpact
on ecosystem
Transmetrics has profoundly influenced both its local ecosystem and the broader market, catalyzing transformative shifts and economic boosts. By spearheading innovative solutions in logistics, they’ve not only streamlined operations for local businesses but also garnered international attention, attracting substantial investments and fostering economic growth. Their commitment to environmental sustainability and social responsibility has set a new standard in the industry, prompting investors to recognize the value of sustainable ventures.
