Paris-based Shippeo, a SaaS platform that provides real-time transportation visibility, announced on Monday, October 24, that it has raised a record-breaking funding of €40.49M to ramp up the global expansion of its visibility platform.
The company has now raised a total of over €111.39M in funding, to date.
The round saw investment from all its existing investors, including Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture, and SAP.io. Investment also came from new strategic investors Hong Kong-based LFX Venture Partners and Japan-based Yamaha Motor Ventures, whose investment will help to ramp up operations across Asia-Pacific.
Shippeo says it will use the funds to further its aim to allow shippers and carriers to manage more collaborative, automated, sustainable, lucrative, and customer-centric supply chains by using global partner networks, real-time data, and artificial intelligence (AI).
Founded in 2014 by Pierre Khoury, Lucien Besse, David Barre, Jean-Bastien Dussart, Brice Hua, and Thibaut Morlot, Shippeo aims to build a data platform for the freight industry by leveraging its growing network, real-time data, and AI to help supply chains deliver exceptional customer service and achieve operational excellence.
The company’s SaaS platform offers an API that integrates transportation management systems as well as telematics products, ERP, and electronic logging device technology, among other data sources.
This provides real-time location data, delivery tracking, and a proprietary algorithm to calculate a shipment’s Estimated Time of Arrival (ETA).
With more than 875 transportation management systems, telematics, and ELD (electronic logging device) systems integrated into its multimodal visibility network, Shippeo’s platform can instantly access real-time cargo tracking for all transport modes.
Earlier this year, Shippeo released several major product developments that give clients additional features and capabilities.
These included the first market-exclusive platform for tracking end-to-end shipments across all transport modes, which featured an improved, “world-class” ocean tracking system with a ground-breaking user experience and potent monitoring features.
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