Dutch startup Route42, which is using smart data to help logistics companies save money and become more efficient, has announced raising €700K from investors BOM Brabant Ventures and Peak Capital. The startup will use the fresh funds to accelerate the development of its transport intelligence platform, establish an international sales organisation and become Europe’s leading data intelligence platform.
Europe has rightly identified the transport sector as a vital sector during the current corona crisis. In 2019 it generated more than €5 billion in turnover, and in Europe alone, five million people work in this sector. However, despite the crucial role of the transport sector, margins are very low, usually around 1-2%. Fuel waste, damage or inefficiency within the operational process can reduce or even eliminate a logistics company’s profits. This is where Route42 comes in.
Route42 was founded in 2015 with the goal to revolutionise the transportation industry by combining cutting-edge asset technology with a powerful data intelligence platform. Route42’s platform, which is versatile and easy-to-use, offers a number of solutions like FleetBot, which coaches drivers to increase transport margins, saving companies €1K per means of transport. Its Transport Intelligence Platform also brings together existing logistics data sources (like planning, existing FMS, and charters) effortlessly, making them ’smart’ by adding other data like weather, and identifying logistical and operational cost savings opportunities.
Max den Dopper, CEO of Route42 commented: “Since the launch of our product four years ago, we have doubled our customer base every year. Today 1 in 10 Dutch trucks are equipped with our transport intelligence solutions. We are enormously proud that, given the current challenging market conditions, we have concluded the new financing round with two leading Dutch Venture Capital firms BOM Brabant Ventures and Peak Capital.”
“The capital can help us further realise our ambitions as a leader in the field of data-driven movement, to become the data intelligence platform of Europe. The funds will be used to strengthen our development team and to increase the number of client integrations, further strengthening the platform. In addition, we will roll out Route42 internationally.”