Logistics tech firm Shippeo has reported a $40 million venture capital round to drive the expansion of its real-time, multimodal transportation visibility platform, the firm said today.
Specifically, the funding will help ramp up operations across Asia-Pacific, thanks to backing from Hong Kong-based LFX Venture Partners and Japan-based Yamaha Motor Ventures. Those new investors were joined by existing backers Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture, and SAP.io.
Paris-based Shippeo said its technology can help shippers and carriers run more collaborative, automated, sustainable, profitable, and customer-centric supply chains. That approach has become increasingly important for logistics providers to navigate a recent spike in challenges, uncertainty, and financial fallout from market disruption, Shippeo said.
The funds follow Shippeo’s move in February to launch in the North American market, expanding its North American operations and U.S. executive team.
Shippeo said that move would boost its number of secure, direct integrations with U.S.-based trucking companies, logistics providers, and ocean carriers, and help to add access to data from their terminal and port operator trading partners.
“There is no better time than now to accelerate Shippeo’s position within the North American market,” Lucien Besse, COO at Shippeo, said at the time. “Visibility data analytics is vital to helping companies proactively manage supply chain issues, especially now, as ongoing market and infrastructure challenges continue to disrupt transportation flows and reliable logistics processes.”