German digital freight forwarder FreightHub has raised $20 million in Series A funding led by Northzone. Other participants in the round include Global Founders Capital, Cherry Ventures, Cavalry Ventures, La Famiglia, and the family office of Indian steel magnate Mittal.
The Berlin and Hamburg-based platform provides booking and tracking services for container and pallet transport in real-time, whether it’s be sea, rail, or air. The company currently has around 650 customers including manufacturing firms like Franke and Viessmann.
This year there has seen several big funding rounds in Europe attempting to digitise the logistics and delivery industries, such as Seven Senders and OnTruck. Freight forwarding has yet to be truly digitised, according to the company. The current system employed by the freight industry still relies on manual and paper-based processes.
Logistics is fragmented and lacks transparency, added Ferry Heilemann, CEO of FreightHub.
“With this funding, we will continue to deliver on our growth plans, and open new hubs in Asia and the USA,” he said. “We are delighted that our investors will support us, not only with capital, but also with their international networks, as we look to build the digital backbone of the logistics industry.”