Zencargo, a London, UK-based digital freight forwarder, raised $20m in Series A funding.
The round was led by HV Holtzbrinck Ventures with participation from Tom Stafford, managing partner at DST Global, Pentland Ventures, Samos, LocalGlobe and Picus Capital.
Zencargo approaches logistics differently from the traditionally paper-based industry, transforming supply chain management through software and automation.
The copany intends to use the funds to continue to invest in its core technology platform, and to accelerate the expansion of its Supply Chain Analytics and Insights group.
Established in 2017 by co-founders Alex Hersham, Richard Fattal and Jan Riethmayer, Zencargo provides a platform that uses automation and machine learning to allow customers to enhance their supply chain management. This uncovers key supply chain insights, allowing businesses to make informed decisions that shorten lead times, increase supply chain agility and reduce working capital.
The platform has already been adopted by many of Europe’s leading growth businesses, including some with billion-dollar supply chains.