Offering a pioneering digital platform that is transforming freight sourcing and procurement, SHIPSTA, has today announced a raise of over €8.9 million – fueling international growth plans.
The fresh wave of funding was led by Dubai-based Tricap Investments, with participation from Chris Kirchner, co-founder and CEO of shipping and logistics process automation company Slync.io. Existing investors also took part in the round.
There are few, if any, sectors immune to digitalisation. As a result, the focus on digital tools to optimize the supply chain has not only become a hallmark of innovation, but a must for shippers. Especially for businesses operating across multiple markets. With a rise in ecommerce, this is also a trend on the up. The heavy reliance on manual processes in procurement is shifting to where businesses are now seeking tools that help them make better decisions, using data and advanced analytics.
SHIPSTA, which launched in 2019, was developed to meet this market need. The founders, Christian Wilhelm, Stefan Maratzki and Oliver Ritzmann, developed the platform to automate all these tasks and bring the power of digitization and freight data to service high performing procurement teams. Amid unprecedented levels of disruption and volatility in the shipping industry, SHIPSTA stands as a digital solution to connect shippers and carriers, providing data centricity, full visibility into their supply chain and controlling transportation costs.
Chris Kirchner, co-founder and CEO at Slync.io said: “There’s a real need for logistics teams to transform freight sourcing and procurement processes as well as gain full visibility across markets for data driven decision-making. There’s an increasing number of shippers realizing the advantages of moving to a highly specialized, transportation-specific procurement tool, and SHIPSTA is certainly leading this transition”.
David Waroquier, CEO at SHIPSTA commented: “Enterprises now recognise that they need to be far more agile and responsive to these pressures. The ongoing logistics disruptions have in effect sparked a huge wave of digitalisation in logistics.”
Based in both Mertert, Luxembourg and Hamburg, Germany, SHIPSTA is used by some of the world’s largest pharmaceutical, construction, chemical, automotive and industrial companies. Finding that the platform is the best solution to reduce their costs, centralize their data on a unified platform and achieve greater operational efficiency.
David Waroquier added: “Since we launched in 2019, we already have over 100 enterprise clients, a third of which are Fortune 500 companies. This latest investment round reflects SHIPSTA’s innovative approach and will further accelerate our international expansion”.
The new capital boost will be used to continue the company’s fast growth in the midst oif the logistics digitalisation wave and accelerate its global reach.
Suleman Soorani at Tricap Investments added: “For multinationals spending hundreds of millions of dollars on freight, even small improvements can be enormously valuable, SHIPSTA is taking a truly next-generation approach centred around data and it is by far the most intuitive and intelligent product available on the market as a result.”