![]() ![]() Raft also has a customer-facing angle, with a shipment portal that offers its customers the ability to share both internal data as well as third-party data with their end customers, says the company, such as multisource container visibility, emissions reporting and quote-to-book. “We recognized early on the pain points around accounts payable reconciliation and customs entry preparation, and we’ve since grown the product to help automate areas such as warehousing, booking confirmations, and more,” said James Coombes, CEO and co-founder in a statement. It has offices in the U.K., India and the U.S., and Raft’s customers include EMO Trans, OIA Global, The Scarbrough Group, NNR Global Logistics and Navia Freight. Raft has now closed a $30 million Series B funding round led by the Eight Roads VC with participation from existing investors Bessemer Venture Partners, Episode 1 and Dynamo Ventures, as well as Moguntia Capital.įounded in 2017, Raft says it now helps logistics players apply AI to their tasks and customer interactions. Two years on and Vector is now called Raft, and that machine-learning has handily been re-branded to “artificial intelligence.” A report by Bessemer Venture Partners said the next phase of growth in India’s digital economy will come from B2B marketplaces. Its portfolio includes companies like Twilio. For more than a decade, Bessemer has made over 200 cloud investments and has one of the largest cloud portfolios of any venture firm in the world. Bessemer Venture Partners is a US-based venture capital firm with offices in India, Israel, and the UK. Back in 2021 Vector.ai (which launched in 2017) raised a $15 million Series A round led by Bessemer to apply machine learning to automate these tasks. We’re releasing 'Scaling to 100 Million' as the industry’s definitive benchmarking report for cloud companies looking to scale to new heights. This meant, of course that freight forwarders and customs brokers also had to keep up. All are associated with streamlining/digitizing freight logistics in some way. To date, Forto has raised almost $600 million, Nuvocargo $75 million, Zencargo $66 million and Freightify $14.5 million. During the pandemic, the digitization of the freight industry took off like a rocket, and stayed that way. ![]()
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