Car Delivery Network (CDN) has identified a sizable flaw in the way that leading car manufacturers deliver vehicles to customers. Namely, that for some inexplicable reason the industry still relies upon paper based data capture methods in order to track the status of orders. Car Delivery Network’s solution is to provide a cloud based Transport Management System (TMS) that manages communication between a whole host of drivers, carriers and shippers.
The product has already picked up considerable traction. About a year ago now Chrysler announced that its 2.2m vehicles had to be delivered using the technology. General Motors has since followed suit, and will require carriers to use the Car Delivery Network from April 2015. There are 16 million new vehicles delivered in the US every year – and CDN has roughly 12.5% (2 million) of that market signed up to use the technology.
The Car Delivery Network is looking to raise £225,000 in order to grow the business as an increasing number of shippers adopt the technology. Below is a more specific breakdown of how the funds will be used:
vinDELIVER is an element of CDN – an online iPhone and Android app and cloud service that llows a carrier’s driver to collect vehicle delivery information electronically. £50k will be used to deliver existing vinDELIVER projects – deploying further support personnel to handle implementation questions.
£100k – accelerate sales, marketing and execution in US market.
£25k – global marketing and branding .
£50k – ongoing development and new opportunities.
Target fundraise: £225,000
Amount raised: £76,710
Equity offered: 7.50%
Days left: 13 days
Tax relief: EIS