Summary
On this episode of The Bentonville Beacon, host James Bell is joined by Aayush Thakur and Deme Yuan, a husband and wife team who co-founded FR8relay, where Aayush serves as the CEO and Deme is the COO. Aayush is also a board member for the Arkansas Association of Asian Businesses and a council member on the Forbes Business Council. FR8relay is a technology company working to create a more efficient and equitable trucking logistics ecosystem by introducing a collaborative model where multiple drivers work together to transport shipments. Throughout the episode, James, Aayush and Deme discuss how FR8relay is working to revolutionize the long-haul trucking industry, what entrepreneurial resources they have tapped into and their relocation to Bentonville.
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Show Notes
(0:51) Introduction to Aayush and Deme
(2:12) About FR8relay
(6:33) Inspiration behind FR8relay
(11:30) Grant Funding
(15:36) Northwest Arkansas Resources
(21:26) Why FR8relay Relocated to Bentonville
(24:55) Why Founders Should Partake in Fuel
(31:53) How Bentonville Has Helped Build FR8relay
(41:02) #BecauseBentonville Story
(45:37) What’s Next for FR8relay
(46:45) Closing Thoughts
Links
JAMES BELL
BENTONVILLE ECONOMIC DEVELOPMENT
AAYUSH THAKUR
DEME YUAN
FR8RELAY
ARKANSAS ASSOCIATION OF ASIAN BUSINESSES (AAAB)
FUEL ACCELERATOR
Quotes
“The objective is for our product, for our company, to increase efficiency in the way long haul trucking is done. Our beneficiaries would be everyone involved in the value chain.” – Aayush Thakur, (3:22)
“Electric vehicles are only used and marketed for short distances because it doesn’t make sense to have to stop and wait for them to charge in long haul. But with FR8relay, we could actually make it make sense.” – Deme Yuan, (13:48)
“The people in the community have been very helpful in getting connected to the right folks here…but in our personal life too, we are living in the community and that is also phenomenal. The people are just amazing.” – Aayush Thakur, (32:03)
Revolutionizing the Trucking Industry with Aayush Thakur and Deme Yuan of FR8relay
On this episode of The Bentonville Beacon, host James Bell is joined by Aayush Thakur and Deme Yuan, a husband and wife team who co-founded FR8relay, where Aayush serves as the CEO and Deme is the COO. Aayush is also a board member for the Arkansas Association of Asian Businesses and a council member on the Forbes Business Council. FR8relay is a technology company working to create a more efficient and equitable trucking logistics ecosystem by introducing a collaborative model where multiple drivers work together to transport shipments. Throughout the episode, James, Aayush and Deme discuss how FR8relay is working to revolutionize the long-haul trucking industry, what entrepreneurial resources they have tapped into and their relocation to Bentonville.
Innovative Trucking Solutions
In an attempt to streamline the seventy percent of freight moved by truck in the United States, FR8relay is tackling core inefficiencies in modern trucking operations that threaten the industry’s sustainability and profitability. To do this, FR8relay has developed a fleet management platform with patented routing technology that disrupts the conventional method of long-haul trucking by eliminating downtime in the current supply chain. Its mobility software works to match drivers with trailers and cargo in a relay model, resulting in equipment and cargo being in continuous movement.
“The objective is for our product, for our company, to increase efficiency in the way long haul trucking is done. Our beneficiaries would be everyone involved in the value chain.” – Aayush Thakur, (3:22)
When utilizing FR8relay’s automated software, the long-haul trucking industry has the potential to increase energy efficiency, decrease greenhouse gas emissions and cut costs by lowering wasted hours on the road idling, refueling and loading and unloading. Due to federal safety regulations, drivers only have limited hours in the day to be productive on their shipping routes. And while necessary, these requirements greatly impact drivers’ personal lives by making their trips that much longer.
The Impact of Economical Trucking
The inspiration behind FR8relay is the recognition that small companies are doing everything they can to survive with razor-thin margins on a day-to-day basis while also trying to keep their trucks and product moving effectively. To date, FR8realy has received about one million dollars in funding with its mission being supported by the National Science Foundation, the U.S. Department of Agriculture, the U.S. Department of Energy and the Arkansas Economic Development Commission.
FR8relay is also a recipient of the U.S. Department of Agriculture’s Small Business Innovative Research award and is an alumnus of Northwest Arkansas’s Fuel Accelerator program for machine learning. Currently, FR8relay is a resident startup at Tyson Ventures, where it is helping Tyson with its goal to reduce emissions per pound of meat sold. In the future, FR8relay will continue to explore the impact it can have on the economic development of small towns by placing its relay-switching locations in rural communities. Additionally, it will further explore electric trucking options with the Department of Energy.
“Electric vehicles are only used and marketed for short distances because it doesn’t make sense to have to stop and wait for them to charge in long haul. But with Relay, we could actually make it make sense.” – Deme Yuan, (13:48)
Get Connected!
Thank you for tuning in to this episode of The Bentonville Beacon! Join us weekly for more stories from entrepreneurs and business leaders who are sparking the rise of Bentonville. If you are interested in discussing whether your business should have a presence in Bentonville or would like to discuss this podcast, please contact James Bell. You may reach James at JBELL@GREATERBENTONVILLE.COM or (479) 273-2841.