Sennder, a platform and market connecting industrial shippers to small freight carriers, raised $ 70 million in a sequence of C-series financing led by Lakestar, with the participation of the US. Accel, HV Holtzbrinck Ventures, Mission A, Siemens & # 39; Subsequent47, H14 and Scania Development Capital.
Based in Berlin in 2016, Sennder masquerades as a "digital street freight forwarder", providing a platform to modernize and automate a sector that has historically relied on paper, telephone calls and faxes. The platform is quite a lot of instruments, together with a cell software that permits drivers to view and settle for hundreds; fleet administration instruments for trucking corporations; clever logistics administration for shippers.
By Sennder, customers can view real-time data relating to the arrival of their items, together with the precise location of the cargo, whereas distributing automated notifications in case delay on account of visitors or different unexpected circumstances.
For now, Sennder focuses on the European market, the place the street freight sector accounts for about $ 400 billion, however is a part of the worldwide marketing campaign to digitize an usually inefficient sector.
The worldwide street transport market is seen as a $ 1.5 trillion trade, which has led to the emergence of many venture-backed regional startups in search of to seize their share of the pie by providing expertise to extend the effectivity of the trucking trade. Earlier this yr, Los Angeles-based Subsequent Trucking raised $ 97 million to streamline the transportation of products by street, whereas San Francisco's KeepTruckin raised $ 149 million from main donors, together with Alphabet, GV, for an automatic fleet administration platform. In India, Rivigo just lately raised $ 65 million and Blackbuck $ 150 million for related proposals.
Elsewhere, Uber continues to spend money on its trucking firm known as Uber Freight, which has just lately expanded to Europe, whereas numerous different corporations are growing varied applied sciences. 39, automation to enhance the enterprise of street freight. Volvo just lately introduced a partnership with the provider and logistics large DFDS, which is able to use Volvo autonomous vans to move items between a port and an area logistics platform.
Sennder has now raised $ 100 million in 2019, following a $ 30 million B sequence run by Accel a couple of months in the past – however the firm doesn’t disclose the quantity it has raised since his creation. With a brand new injection of funds, Sennder introduced plans to increase into new markets and "develop its technological and operational capabilities," in keeping with an announcement.
Lakestar is a widely known investor in Sequence C, as its different portfolio corporations embody Spotify and Airbnb, the primary to go public just lately and the second to take action.
"The investments of enterprise capital corporations Lakestar and Accel present that we’ve got recognized a serious problem and that its answer will play a significant function in the way forward for European logistics markets," stated Sennder's founder , Nicolaus Schefenacker.
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