Shippeo, a French startup making software solutions for the delivery industry, has raised €10 million led by Partech Ventures and Otium Venture.
The Paris-based company develops a supply chain visibility platform to help businesses track and monitor truck shipments in transit in real-time. This allows companies to provide more transparency around the status and location of its shipments, information on possible delays, and to improve customer support.
The company plans on further expansion in the French market as well as moving into the German market in early 2018. It will hire up to 40 new people and boost product development with implementation of new interfaces in the platform to improve productivity.
Shippeo currently has 30 customers and is aiming to doubled that within the next two years.
“This new capital increase will allow Shippeo to accelerate its international business development while maintaining strong R&D investments,” said CEO Pierre Khoury in a statement. “The reputation of Partech Ventures and its vast experience in international development will be major assets in the implementation of our ambitious growth strategy.”
There has been a spurt in investment in shipping and logistics startups in the past year with several startups around Europe raising significant rounds, most recently including SendCloud and OnTruck.
Shippeo raised its first round of funding at €2 million last year.
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