Shippeo, the French startup working in supply chain visibility, has raised a €20 million Series B round, led by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.
The Paris-based company wants to digitise freight transport. Its AI-based platform can calculate the estimated time of arrival with 98 percent accuracy, thanks to real-time data aggregated from hundreds of sources.
Over the last year, Shippeo has increased its turnover by 300 percent. Founded in 2014, the company now serves more than 50 large customers across 40 countries, and its team consists of 80 people in seven different offices across Europe.
Commenting on the support of new investors, CEO Pierre Khoury and COO Lucien Besse released a joint statement: “Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market.”
Remy de Tonnac of ETF Partners said: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of Industry 4.0 with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility into its sustainability impact.”
With the new funding, the French company plans to multiply its customer base by five, to triple its investment into R&D of AI and automation, and make 150 new hires in data science, IT, sales and operations.