In the latest development, Shippeo, the leading supply chain visibility provider in Europe, has raised €20 million in a Series B round led by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.
The company will be using the funding to strengthen its market-leading position in Europe further, expand the team by 150 recruits, and to triple its R&D investment in AI and automatization to achieve increased operational excellence.
Based out of Paris, the AI-based platform aggregates data from hundreds of sources in real-time to calculate the estimated time of delivery arrival with 98% accuracy. Ever since its inception, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers, such as Schneider Electric, Carrefour, Eckes-Granini and Leroy Merlin, across 40 countries.
The team has grown tenfold, and Shippeo now employs 80 people in seven different offices across Europe. Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing startups in Europe.
Pierre Khoury – the CEO and Lucien Besse – COO of Shippeo, said:
Welcoming top-tier investors is a great source of pride for Shippeo. Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.
Bo Ilsoe, Partner of NGP Capital, stated:
Working with great entrepreneurs is our core mission at NGP Capital, and we are honoured to join Pierre, Lucien, and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization, and we look forward to adding value to the company through our global model and network.
Remy de Tonnac, Partner at ETF Partners, said:
Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility on its environmental impact and thus will drive significant improvements here for the benefit of all stakeholders.
Main image credit: Shippeo
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