Munich-based BOX ID, a logistics software provider, announced that it has secured €3.5M in a fresh round of funding to expand its IoT-based supply chain visibility offerings.
The investment was led by KPN Ventures, and also saw participation from existing seed investors HTGF, Bayern Kapital, and Wille Finance, along with business angels from the BayStartUP Network.
The capital will support the enhancement of BOX ID’s SaaS platform, already used by industry leaders in Europe and the Asia Pacific region.
Brief about BOX ID Systems
Founded in 2018, BOX ID is a logistics software company providing a cloud service for industrial logistics. Its platform enables tracking, automation, and optimisation of material flows within sites and supply chains, using various Auto-ID and IoT objects.
Specialising in sectors like automotive, wholesale, healthcare, machinery, glass industry, and post & parcel, BOX ID offers a scalable solution for efficient supply chain management.
Currently focused on Central Europe and Asia Pacific, the platform’s success is highlighted by a module, developed in partnership with Fega & Schmitt, that controls transport container flow and eliminates costly commissioning errors in distribution centres.
Eliminating waste in logistic process execution
BOX ID’s cloud-based solution empowers customers to monitor and control both inbound and outbound shipments, optimising the flow of goods and returnable transport packaging (RTP) fleets.
It operates across various premises, whether owned or third-party, as well as during transit. The software integrates IoT-sensor data with enterprise software records like ERP and TMS, resulting in transparent supply chain data.
This enables analytics functions that ensure availability, prevent loss, and optimise the utilisation of RTP fleets and other mobile logistic assets.
BOX ID co-founder and MD Dr. Wolfgang Vogl says, “We eliminate waste along the supply chain for our customers by automatically monitoring real-time data streams against the targeted processes. Cutting down loss, shortages and misrouted items not only optimises availability but also saves costs and improves the overall environmental protection.”
“Today’s logistic asset tracking systems have little to no real-time process context. They create reports so you eventually can analyse what went wrong. Our software constantly monitors your process execution and identifies and prevents errors before they occur.”
Capital utilisation
The funding will help BOX ID to advance its product development and business expansion.
Carolien Nijhuis, Executive VP at KPN IoT & Dataservices, says, “We aim to partner with sustainable technology startups with a solid vision. With its clear portfolio philosophy and the focus on specific verticals in industrial logistics segments, BOX ID is well positioned to add value to KPN’s national and international Enterprise customers.”
“BOX ID has a strong team together with a promising market position and positive customer feedback,” adds Nijhuis.
01
From port to startup fort: How Lars Crama is ‘Making it Happen’ in Rotterdam