Rotterdam-based digital freight forwarding platform Shypple has raised a total of €25.5 million in Series A and A2 funding this year, snapping up air and ocean freight forwarder Milestone in the process. With this acquisition, Shypple claims to be the first digital freight forwarding service for air freight and perishables.
The Milestone acquisition now also strengthens Shypple's foothold in the lucrative Asian market, including seven offices in China. Likewise, Milestone will bring increased European and Central American marketplace presence.
The newest addition of €18.5 million (dubbed a Series A2 round) follows an earlier Series A round of €7 million that was announced earlier this year. Initial Series A round investors included Dutch Founders Fund, Newtown Partners (via the Imperial Venture Fund), InnovationQuarter, and BOM Brabant Ventures also participated in the latest round. Embracing the acquisition, executives from Milestone also contributed.
"We are giving a huge boost to the digitalisation of our services by combining our knowledge of perishable transport with the digital capabilities of Shypple," said Milestone co-founders and CEOs Co van Es and Juri Falandt. “As a result, our customers immediately benefit from the visibility, consistency, and reliability that will enable them to confidently optimise their global trading operations. This is hugely important in an intercontinental market where efficiency and access to the latest freight information are essential."