Freightos, the online logistics technology company, today announced the completion of a $25m Series B extension round, led by GE Ventures, with participation by additional investors that bring the company’s total funding to $50m.
Since its July 2016 launch, the Freightos Marketplace, which powers instant freight quotes for freight forwarders and offers freight rate management and pricing and routing optimisation for supply chain companies, has grown dramatically, with a 600% increase in orders in the first six months, a 100% growth in Q1 2017 orders over Q4 2016.
“The age of digital logistics has arrived,” said Dr Zvi Schreiber (pictured), founder and CEO of Freightos, “and with it easier importing and exporting for businesses worldwide. This once-neglected sector is ripe for digitisation.”
“Logistics digitisation is a strong strategic complement for General Electric’s role as the world’s leading digital industrial company,” said Jonathan Pulitzer, GE Venture’s managing director of Israel.