Helsinki-based Logmore bags €4.5 million for its QR data logger

Today Finnish startup Logmore, a pioneer in QR code data logging, has closed a €4.5 million Series A equity investment round. The round was led by NordicNinja VC, in partnership with Icebreaker VC, Trind Ventures, Tekton Ventures, and Jaakkoo-Taara, to fund Logmore’s global expansion.

Logmore, founded in 2017, has designed and produced an innovative QR logger. Shipment condition monitoring (such as temperature monitoring of food and pharmaceuticals) is crucial for global logistics. To make sure things run smoothly, Logmore measures the quality of goods with its seamless cloud service and QR code tags, keeping an eye on temperature, humidity, light, shocks, and tilt. 

Data on goods is retrieved by reading the QR code with any smart device camera or standard barcode reader, and is then automatically uploaded to the Logmore cloud platform, which allows managing and monitoring quality of fleets of all sizes. Unlike the competing Bluetooth/USB solutions, Logmore requires no specific technology from recipients and can be used also in airborne supply chains, making it truly an end-to-end solution.

The whole process allows teams to monitor their shipments all the way to the users, which is especially useful for home deliveries. In addition to logistics, negotiations are open with enterprises from industries such as pharmaceuticals, food, and electronics.

Since launching in March 2019, Logmore has been adopted by 150+ enterprise quality management teams with increasing demand. Now, this fresh capital injection will allow Logmore to scale up operations, meet the strong demand for its services in North America, Asia, and Europe, and expand its team in Finland. Logmore had previously raised €1.3 million in funding for developing their innovative subscription-based service.

“After launching the service we’ve been working hard to make critical shipment condition monitoring such as temperature monitoring of food and pharmaceuticals easy, efficient and reliable. We are very excited to bring transparency and security into the global supply chains”, says Janne Juhala, founder and CEO of Logmore.

“QR technology was invented in Japan and has been used for contactless payment for years. Logmore has taken this technology to the next level to ensure the quality of deliveries”, said Tomosaku Sohara, Managing Partner of NordicNinja VC. “We’re looking forward to supporting the company as they scale up globally.”