Today, Paris company Wakeo announced its latest funding round, raising €18 million and bringing its funding to over €30 million.
Founded in 2016, Wakeo provides a SaaS platform to bring real-time visibility on intercontinental multimodal freight transport flows.
An algorithmic mode powers its platform and provides supply chain teams with intelligent Estimated Time of Arrivals (ETAs) of their shipments to anticipate disruptions.
With reliable data and ETAs, supply chain leaders can enhance their supply chain performance by optimising transport plans, reducing emergency costs and improving inventory management. By proactively communicating expected delays to all stakeholders, they can ultimately provide a better customer experience.
The company operates transport flows in over 180 countries.
This round was led by Statkraft Ventures, alongside continued investments from existing investors Promus Ventures, 360 Capital, 50 Partners and Techstars.
The funds raised will support Wakeo's international expansion, further executing its product roadmap and pursuing its commitment to sustainability —a core focus area considering 17 percent of global emissions stem from the transportation of goods.
Wakeo's solution not only provides a precise measurement of transport emissions but also helps global organisations to reduce their carbon footprint.
According to Julien Cote, CEO and Co-Founder at Wakeo:
"We are incredibly delighted by the trust from Statkraft Ventures as they join us in our journey to become the global leader in supply chain visibility.
Stefan Hülsen, Managing Director at Statkraft Ventures, stated:
"We are thrilled to support Wakeo's vision for a more resilient and sustainable supply chain.
Wakeo's innovative solutions provide a holistic approach for supply chain leaders to make more informed decisions with a balance in reliability and sustainability - perfectly aligned with Statkraft Ventures' dedication to supporting businesses contributing to the move towards a sustainable economy."
Lead image: co-founders of Wakeo: Julien Cote, CEO, and Loïc Marzin, CTO. Photo: Uncredited.