On April 26, 2021, Great Strategy Consultants (GEI) hosted the China Fast-growing Enterprises Conference in Tianjin and celebrated the release of the 2021 China Unicorns Research Report, with FOR-U Smart Freight selected for its creation of new value through innovative technologies in the road freight industry.
Greatwall Strategy Consultants was the first consulting firm to publish research on unicorn enterprises in China, and has released its China Unicorns Research Report for six consecutive years. The unicorns selected in the report needed to be unlisted companies that are less than ten years old and with a valuation of more than $1 billion.
According to the report, the total combined valuation of unicorns in China exceeded $1 trillion for the first time in 2020, with the unicorn enterprises selected on the list coming from 27 sectors, with most clustered in sectors such as smart logistics, new energy and smart cars, digital entertainment, and others.
Unicorn enterprises are distinctive from other, more traditional companies in they disrupt through innovation and play an important role in the development of new industries and the application of new technologies. Through in-depth integration of AI technology, big data, a service system, and its platform business model, FOR-U Smart Freight makes road freight simpler and smarter, providing a new technology platform and services to carriers and shippers in China, bringing road transport into a new age.
As the first platform in China to apply AI technology to road transport, FOR-U Smart Freight introduced its "FOR-U brain" smart platform. Through smart dispatching, pricing, and services, it provides comprehensive inquiry, pick-up, delivery, and contract settlement services for both upstream and downstream stakeholders across the entire road freight process. At the same time, it helps shippers and carriers reduce the cost of information access, improve vehicle operating efficiency, and optimize the transport service experience.
In recent years, FOR-U Smart Freight’s innovative business model has been recognized by a number of international institutions. In November 2020, Forbes China included FOR-U Smart Freight in its 2020 Forbes China Gazelle List, while FOR-U Smart Freight was the only company in China's truckload sector to make the Boston Consulting Group’s 2020 BCG Tech Challengers list.
In addition, FOR-U Smart Freight and Trunk, China’s leader in autonomous driving, established a joint venture that would see the two companies combine their technological advantages to build a new generation of AI transportation network, and to apply autonomous driving technology to trunk road transportation.