The company last announced its Series C raise in 2022, led by SoftBank Vision Fund 2 for $115 million, valuing the company at $575 million. Platform Science has raised $309 million since 2017.
According to Terminal Industries, 92% of yards lack technology solutions to eliminate wasted capacity, drive down unforeseen costs and improve inventory operations, leading to $146 billion in excess transportation costs.
Despite the problems in the U.S. and around the world, there are some encouraging signs.
“There is an urgent demand for new and innovative ways to increase visibility and efficiencies in the supply chain and improve driver experience, and this investment from our new and existing partners is going to power us to fill that need,” says Platform Science co-founder and CEO Jack Kennedy.
The new infrastructure bill is now law. As signed by President Biden on Nov. 15, it will ultimately spend $1.2 trillion. What will that mean in practice?
Supply chain tech is increasingly driven by late-stage venture capital activity.
“The most effective way to address supply chain congestion is to move inventory closer to the end customer,” said Deliverr co-founder and CEO Harish Abbott.
Jake Medwell of Austin, Texas-based 8VC, and Loren Smith of Skyline Policy Risk Group discuss geopolitics, infrastructure and regulation in their latest give-and-take session.
“The deluge of information can lead to processing delays, false detections and erroneous alarms. All this processing noise is what leads lidar systems to behave like distracted drivers,” said Spartan Radar’s founder and CEO on competing technology.
Amazon’s Jeff Bezos increases investment in U.K.-based supply chain platform Beacon and confirms rumors of investment in Singapore-based e-commerce platform Ula.
Daimler Trucks North America’s participation in this round points to an increasing market for Truck-as-a-Service products, tools integrated during the manufacturing process to help fleets manage safety, privacy and intelligent automation tools.
In his keynote address at FreightWaves’ Cold Chain Summit on Wednesday, Sudarsan Thattai, CIO of Lineage Logistics, says the global leader is well positioned to address future supply chain challenges through technology investments and key alliances.
Temperature-controlled logistics real estate investment trust Lineage Logistics and venture capital firm 8VC have formed an alliance to invest in technology startups in the transportation and logistics industry.
8VC was named top VC in Pitchbook’s Q1 2021 Supply Chain Tech Report.
Project44 attributes its exponential growth, like its 135% year-over-year new bookings growth in Q1, to its skilled global team.
Jake Medwell, founding partner at 8VC, and Loren A. Smith Jr., president of Skyline Policy Risk Group, take a look at potential impacts on trucking.
The capital will drive volume growth and help Baton expand to new markets.
The software platform could help restore “lifetime value” to the 9.5 million tons of furniture that end up in landfills each year.
DASH wants to land the package, not the plane.
8VC founding partner Jake Medwell has become the most active freight tech investor in the past five years. He told FreightWaves how the space is changing.
Startup Baton Trucking believes it can eliminate waste and detention through a drop yard network.
The former chief customer officer for YRC Worldwide will work with 8VC portfolio companies full-time.
FreightTech venture investing is super hot, but most of these startups continue to lose money. Is this a fad or something else? Last year, FreightWaves created a FreightTech Venture Index […]
A digital logistics startup that helps trucking companies automate workflow has raised $10 million in a Series A round led by Goldcrest Capital and 8VC.
The Houston-based startup is run by executives with decades of experience in global logistics, and plans to tackle the oil and gas vertical first.
8VC, the venture capital fund dedicated to solving real-world problems through industry transformation, announced Alan Gershenhorn, former Executive Vice President and Chief Commercial Officer of United Parcel Service, Inc., (NYSE: UPS), has joined the firm as an advisor.
The rapid growth in investment resembles the Fintech sector from 2006-10, but TransportTech is still an understudied and less well understood field for venture investment.
FreightWaves raises $13 million from venture capital investors from San Francisco, Chicago, Detroit, Washington DC, and New York to continue scaling the freight market analytics platform.
Schneider National’s Shaleen Devgun joins San Francisco-based venture capital firm 8VC as an advisor. FreightWaves spoke to Devgun and 8VC co-founder and partner Jake Medwell by phone.
Schneider National and 8VC announced a partnership with Platform Science to develop data platforms to allow carriers to manage IoT data and generate custom, realtime insights.
