Potsdam-based startup Synfioo is tackling the difficulties of non-transparent supply chains, by displaying real-time information for rail, air, and road transport to all companies involved on its cloud-based platform. The platform includes an algorithm that calculates possible sources of disruption on the transport route from large amounts of data, and alerts all parties involved at an early stage if necessary.
The startup is expanding its platform for monitoring intermodal supply chains with a new investment of €2.5 million. The funding comes from previous investors BFB Brandenburg Kapital and HPI Seed Fund, as well as business angels, btov’s Industrial Tech Fund and Senovo.
“Both the previous and the new investors are expressing their confidence in us in this way. This proves that we are on the right track. With the additional funds, we will now continue to build our brand. Our team will also be expanded to better support our customers,” said Marian Pufahl, CEO of Synfioo.
Synfioo also uses AI to predict a precise Estimated Time of Arrival (ETA) for stopovers and destinations. The platform can be easily used via various interfaces, either in combination with existing transport management systems or via computer and smartphone.
Synfioo’s algorithms are based on a multitude of current and historical data from various sources. If the software detects disturbances or delays in the transport process, these are highlighted and sent as a notification so they can be managed directly. Delays represent a high risk for production processes that are set up for “just-in-time” deliveries. If resources or spare parts are missing, the failure quickly leads to high costs. Workflows can be better planned with the ETA platform, because all affected parties are always comprehensively informed and thus have more room for maneuver.
“We invest in start-ups with the potential to prevail on the market and against competitors. The accuracy of Synfioo’s forecasts is already up to 50% ahead of established competitors,” said Benedikt Kronberger of btov Partners.
“Synfioo’s business model has convinced us because it comprehensively takes into account all the transport modalities of a supply chain, from trucks to ship and train transports to air freight,” said Dr. Alexander Buchberger, Partner at Senovo Capital Management. “Modern transport routes are just as complex, and Synfioo achieves transparency here.”
With the additional capital, Synfioo intends to further develop its brand and invest in sales.