12 Oct #BigDNT October: Craig Fuller of TransVix
Following Cole Oliver’s presentation on CHDR financial at Dallas New Tech, Craig Fuller, presented about the Dallas-based company, Transvix. Transvix is one of the largest private technology investors in North America, where Fuller serves as the CEO.
Fuller explained that Transvix is building a futures exchange and derivatives market. Their goal is to convert transportation pricing into a trade-able commodity. Since this has already been accomplished in the maritime spectrum, Transvix believes they can accomplish this in the truck market as well.
At Transvix, Fuller said that they assembled a team people from the trading and trucking industry, to solve the issue of pricing volatility. They raised Series A funding 200M from Hunt Technology Ventures, believing that they could build a multi-billion dollar company by creating this new market.
Fuller explained that at Transvix, “we’ve assembled folks that can answer the question of: how do you create a trade-able commodity of something that is perishable and synthetic? But also – how do you solve this problem from an industry standpoint?”
There’s a market opportunity in the United States, since the trucking market is 700 billion dollars. Globally, the market is around 2 trillion, so the trucking market represents 12% of global GDP. Yet, this market as a commodity isn’t being traded, but priced as if it was. Transvix believes that the value of total volume that could be traded is 2.8 trillion dollars, based on the size of the Maritime market over a month-long period.
Simply put, Transvix is working towards giving trucking companies the structure, predictability, and transactional relationships so they can protect their positions in the market.
Below is Fuller’s entire presentation!