Smartlane, a Munich, Germany-based SaaS provider specializing in AI-based transport optimisation, raised over €6.2m in funding.
In addition to €1.7m in EU support funds, Jova Direkt Invest GmbH and existing investors have joined a Series-A financing scheme totalling more than €4.5m.
The company intends to use the funds to continue to double the size of its team, strengthen its market leadership for AI-based transport optimisation, and continue its product development towards enabling autonomous logistics systems to fully manage the dispatch process.
Established in 2015 by Dr. Mathias Baur, Monja Mühling and Florian Schimandl, Smartlane Transport Intelligence provides an AI-based technology platform for automating planning and optimization processes in transport logistics. Through its AI, Smartlane Transport Intelligence digitalises the manual dispatching and transport planning process in part-load distribution logistics, even when the data basis is patchy.
Customers include numerous part-load distribution SMBs, including several members of the Cargoline network.