Berlin-based logistics services startup Sennder is taking on funds at around double the $1 billion or so value it received for equity issued January 2021, when it took $160 million to ramp up its digitised freight trucking strategy.
At least that's according to Handelsbatt, the German business daily, which cites unnamed sources saying €60 million in funds has been clinched already from Sennder's existing investors.
It's been seven years+ since Sennder was formed by David Nothacker, its CEO, along with fellow co-founders Julius Köhler and Nicolaus Schefenacker.
In the past year the pan-European freight network density of Sennder has been strengthened. This past May, the startup made its official debut in Romania, supposedly becoming that country's first all-digital freight carrier, building on an expansion of its Polish presence earlier in 2022.
Sennder has benefited from M&A-led growth in recent years, notably garnering hype through the purchase of Uber's European freight business in an all stock deal in 2020. Sennder also sealed a merger with its French rival Everroad that year, to solidify its northern European freight presence, and struck a freight forwarding pact that same year with Poste Italiane, Italy's main post carrier, worth around €100 million.
Sennder's existing investors include Accel, Lakestare, HV Capital, Project A and Scania. Its most recent funding haul was the second series D close in June 2021 which added $80 million to the $160 million in fund raised that January.
At the time of its launch in Romania, the Sennder operation comprised 40,000 trucks monitored by clients through its visibility-enabled digital platform to ensure reliable deliveries and track emissions. Sennder said then it expected to boost Romanian employees to 40 from 11 by the end of this year, adding to its existing CEE presence in Warsaw and the Baltic states.