Tive lands $54 million to support shipment tracking tech
Boston firm adds sensors to cargo to measure acceleration, temperature, humidity, light, and shock.
The in-transit visibility solution provide Tive Inc. today said it has raised its largest venture capital round to date with a $54 million injection supporting its technology for tracking and monitoring logistics shipments.
The “series B” round was led by AXA Venture Partners, with participation from Sorenson Capital, Qualcomm Ventures, Fifth Wall, SJF Ventures, and Floating Point Ventures, as well as existing investors RRE Ventures, Two Sigma Ventures, NextView Ventures, Hyperplane Ventures, Broom Ventures, and Supply Chain Ventures. It brings the Boston-based firm to a total of $80 million raised to date.
Tive says that the use of trackers in logistics will continue to proliferate as technology becomes more cost-effective, available, faster, and smaller. Taking advantage of those trends, the company says it packs increasing functionality onto its tags, including: accelerometers, temperature sensors, humidity sensors, light sensors, shock sensors, and radio and wireless communication links.
In 2021, Tive announced a partnership with FourKites to combine Tive’s asset-tracking visibility inside the trailer with FourKites’ in-cab telematics and ETA (estimated time of arrival) capabilities. Together, those functions can help shippers, carriers, and third-party logistics services providers (3PLs) to gain greater insight into in-transit shipment data, the partners said.
Team Tive is proud and excited to announce our $54M Series B round of funding.
— Tive (@tiveInc) April 11, 2022
Read more about our journey to this point from our CEO & Founder, Krenar Komoni >> https://t.co/R2g5VXQRnS#supplychain #visibility #TeamTive pic.twitter.com/xAImFLcFos