Shippeo raises 40 million euros to bring real-time visibility into supply chains. Fundraising from Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture, SAP.io, LFX Venture Partners and Yamaha Motor Ventures. Since its inception, the startup has raised a total of 110 million euros.
The startup, founded in 2014, supports shippers and logistics service providers by improving supply chain transparency. For this, an API-based SaaS platform was developed to integrate data sources from hundreds of transport management systems (TMS), ERP, on-board IT or other electronic systems.
Items are tracked in real time and the Estimated Time of Arrival (ETA) is calculated using an algorithm developed by Shippeo. The startup is connected to more than 150,000 carriers worldwide and offers asset tracking in 92 countries. This allows businesses to respond more quickly in the event of disruptions.
Shippeo anticipates future profitability through “exemplary cost management.” During the year, the 220-employee startup introduced several new features: an improved sea-stream monitoring solution that allows Shippeo to offer end-to-end shipping tracking regardless of mode of transport; dashboard for monitoring CO2 emissions from transport; increased accuracy of the estimated time of arrival; strengthening the tracking of rail cargo through a partnership with Everysens (provider of rail and intermodal management systems).
Shippeo has over 150 customers including Coca-Cola HBC, Renault, Jaguar Land Rover and Philip Morris International. And its completion rate is below 4%. With this financial contribution, Shippeo intends to accelerate its international growth, especially in North America and Asia Pacific. It entered the North American market at the beginning of the year: to strengthen its presence there, it entered into a partnership with e2open, which offers a multi-company supply chain network.
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