The French logistics and shipping startup Chronotruck, which specializes in freight transport, has completed a round of €3.5 million. The investment round was led by Seventure Partners.
Chronotruck has developed a B2B web and mobile platform that allows shippers of merchandise to find available carriers in real time, close to their loading point. The startup was founded in 2016 and already claims to have 1,400 carriers registered on its platform, and nearly 500 customers. With the investment, the startup plans to expand internationally in the next year, starting in Germany and Belgium and later moving to Spain and Italy. It also plans to substantially increase its staff and strengthen its sales efforts.
Chronotruck relies on an algorithm that instantly determines the price of a shipment regardless of distance, weight, volume, vehicle type, location or date. If the price is suitable for the company wishing to make a delivery, it is sent automatically to the available drivers located around the loading point. According to the start-up, 1,000 pallets are delivered weekly via its platform.
Read more: FrenchWeb.fr (French)