SYNTRA RAISES $18 MILLION TO EXPAND
Syntra Ltd., the New York-based logistics information tecnology
vendor, has raised $18 million from venture capital firms Invesco, Merrill Lynch KECALP
LP., Oak Investment Partners and Sandler Capital to fund its expansion.
The global commerce management program of Syntra is designed to address
financial, logistics and regulatory constraints to have global fulfillment processes, the
company said.
The e-commerce firm has developed a Global Logistics System application
to automate the exporting process of companies. The system covers order validation,
compliance and electronic data interchange communication, track and trace and "event
chronology."
Syntra also announced the company has changed its name to Syntra
Technologies.