Xeneta raises $12M Series B to crack open ocean freight pricing
Xeneta, the Oslo, Norway-based startup that gives a crowdsourced value comparability carrier for ocean freight, has raised $12 million in Series B investment.
Leading the spherical is London-based Smedvig Capital, with participation from present buyers, together with Creandum, and Alliance Venture. It brings general raised since Xeneta used to be based in 2012 to $20.five million.
Aiming to disrupt the historically opaque $200 billion-plus container delivery marketplace, Xeneta has constructed what it describes as an “ocean freight benchmarking and market intelligence” platform that depends on the ‘crowd’ to percentage information on container delivery costs from shipper and freight forwarders.
The concept is to crack open ocean freight pricing and supply a lot better visibility into marketplace reasonable costs on upwards of 160,000 world business routes. I’m advised the corporate has crowdsourced over 23 million delivery costs, enabling it to provide those costs again to the business in real-time.
Customers come with Kraft Heinz, Electrolux, Continental, Thyssenkrupp, Akzo Nobel, Brother International, along with main providers within the automobile, chemical and retail industries.
Meanwhile, Xeneta says the brand new capital will likely be used to fund the startup’s persisted world enlargement and for product building.