FreightHub, the European digital freight forwarder, has raised $30 million in Series B financing. Leading the spherical is Rider Global — a enterprise fund mentioned to be based by logistics specialists — together with Maersk Growth, the company enterprise arm of container delivery big A.P. Moller-Maersk.
Existing buyers Northzone, Rocket Internet’s Global Founders Capital (GFC), and Cherry Ventures additionally participated. I’m informed the London-based funding agency Unbound, based by Shravin Mittal, considerably expanded its stake too.
Operating within the freight trade, an antiquated market that’s ripe for digitalisation and consequently has attracted a plethora of well-funded startups, FreightHub is getting down to compete with and change conventional freight forwarding corporations who sometimes depend on legacy IT techniques and cumbersome and handbook processes.
Described as a fully-fledged freight forwarder, the Berlin and Hamburg-based startup provides transport companies for sea, air and rail freight, constructed on digitized processes – from reserving, communication, knowledge change and doc administration to produce chain optimization.
Last 12 months, off the again of its $20 million Series A, FreightHub says it closely invested in options for digital collaboration between prospects, companions and suppliers and expanded the interface capabilities for its system integration capabilities. The firm additionally expanded its service portfolio, together with acquiring an IATA license for air freight companies.
“Our forwarding solution offers more transparency, reliability and ultimately time and cost advantages for large and mid-sized organisations,” says FreightHub CCO Michael Wax in an announcement. “Today, we serve some of the most well-known German brands and grew our volumes again 3x year over year”.
Claiming greater than 1,500 prospects – together with well-known corporations resembling Dwelling24, Miele and Viessmann – along with present areas in Berlin and Hamburg, the FreightHub lately opened its first Asian workplace in Hong Kong and purchased a sea freight forwarder specialised in Asian imports.
“Our recent growth trajectory has confirmed the potential that our digital solutions can realize for both our customers and FreightHub’s internal processes,” provides FreightHub founder and CEO Ferry Heilemann. We will use the recent capital to additional develop our digital service providing and to increase our presence in Asia”.
